Many many moons ago, the Buccs did a mission that involved a SAR scenario. One of our guys, Buhdman, bailed out on purpose near an enemy VH. Another Buccaneer took a TBM, while the rest of us took P-38's. The plane was to swoop in and kill the VH, then CAP the area while the TBM landed and "rescued" Buhdman. The only downside was, that Buhdman had to .ef before he could join the TBM pilot's crew, but it was fun to simulate anyway. I'd love to see this kind of capability, where the downed pilot got to keep his perks if rescued, while the rescuing pilot would get a big perk bonus.
During the original Tour of Duty, we had a guy (Greybeard, I think) get shot down. I had created and run the TOD (not the same as the TOD of today, which is squad based), so I was CM'ing. If you got shot down in a TOD mission, you could no longer fly TOD missions (though you could volunteer for the OPFOR), and Greybeard was just one mission shy of completing the requesit five mission in a row when he was shot down. His team mates asked me if they could attempt to rescue him, so that he could continue flying the current TOD, so I said "sure."
He walked for about 45 minutes to get far enough away from an enemy base for the goon to attempt to land next to him and "pick him up." The rescue goon would then have to fly him safely back to friendly territory. Unfortunately, while the goon was only a minute or two out, someone upped a fighter from that nearby base, spotted him on the ground, and strafed him. Even though it was heartbreaking that Grey was KIA, everyone enjoyed the immersion of trying to save him. Because the stakes were relatively high (i.e. if rescued he could continue flying in the remaining TOD missions), it really made it more real for everyone envolved.