The only reason I don't bring them back in a touch is it seems like the value of being able to make a more accurate long shot (say to get someone to break off their pursuit of a friendly, etc) is greater than the extra punch afforded by hitting with a more harmonized convergence at closer range. I would say most of my shots are between 100 and 300, and I am really only using the P-51B until I get it down right... would bringing them in to 300 help?
Seems like the value... Is the key point of your statement.
To each his own, but...
In addition to convergence HTC has modeled dispersion. This means that the "cluster" or "group size" of any individual gun gets larger or more spread out the further away you shoot. If the gun was perfectly stationary when it was fired at say 200yds, not every bullet would go into the same hole. They'd all hit within a fairly small circle, though. As an example, let's say they all hit within a 6" diameter circle...
If you double the range (and fire at 400 yards) with that same, stationary gun the group size will get larger. The bullets will no longer all impact within that 6" circle, but will now spread out to hit roughly within a 12" circle.
What that means is that if you compare the group size of a 400yd convergence fired at 400yds with a 300yd convergence fired at 300yds, the latter will be a "tighter" (more effective) group. That's "first". Second, the bullets lose energy with range, which once again gives the title of "more effective" to the 300yd setting.
Next, the 400yd setting is at its most-effective at 400 yards, with some
loss of
effectiveness at every other range (even for closer shots). The same argument can and should be made for the 300yd convergence setting, obviously, but... You state that you generally fire between 100 and 300yds... That means you'll essentially NEVER get full effect with the 400yd setting, and as pointed out, even if you do it'll be more spread out and have lost more energy... With the 300yd setting, you're going to have more effect, simply because you have a tighter, higher energy group.
Next, back to dispersal and convergence... With the 300yd setting, as you fire further than 300yds, your rounds will begin to spread out again... However, due to dispersal the effect at 400yds isn't a whole lot worse than than the effect with the 400yd setting. The primary difference is that instead of one big spread-out group you'll have two groups.
Taken to extremes, it's easy to see this if you fire on bombers in a top-down attack with a 300yd setting at say 600 yards. At this range, your two groups will have spread out to be 15' apart (double the distance of convergence means your groups will have spread back out to match the distance between your right and left wing guns). That 15' spread will still land on the bomber assuming you can hit it where the wings meet the fuselage... You'll see the group tighten as you close to 300, and by then you'll have full impact on the bomber. One quick pass with 6 .50's is about all it takes to kill any bomber in the game this way...
6 x .50's fired at 300yds with a 300yd setting is chainsaw effective against fighters.
In short though, you're already somewhat hindered by only having 4 x .50's (not that it matters; fly what you like and learn to be effective in it). Why hinder yourself further with a 400yd setting?