I agree. I've been wanting this in AH for some time now.
It would be nice to finally see the streamers a-la SWOTL where the poor bugger plummets to earth in his bullet riddled chute. How would you like to go back to training after getting shot down and your chute straffed to boot

And before you get all upset and flame me...remmeber that you wanted AH2 to be as real as possible. There are many documented cases of pilots being killed in their chute after bailing out, so if you are a "purist" it should be included and modelled in the game.