WarBirds used to have a FAF with markings back in version 2.01 I think. Don't know why it was removed.
The tracer effects in WBIII are placeholder effects, so I wouldn't compare them to anything. The WB III plane models are beautiful, not crappy. What are you looking at?
The patch 2 cloud effects are, well, better than before. They're getting closer. The first release definitely had a alpha look to it, and this one looks to be more beta-like. Still not there yet, but much closer.
AH still has a LOT of features over WB (solid connex being one most take for granted here), and probably has 6 months or more of development time before we can really make valid comparisons and judgements.
It'll really get interesting this summer, with WB III out and WWII Online available. Personally, I think AH will be alright - just keep cranking out the late-war planes and vehicles no one else has. Add landing craft and seaplanes, air-sea rescue and nightfighters. There are a lot of ways AH can stay ahead of WBs, even if WBIII is better graphically. Relax and enjoy the competition - we're the ones that benefit.
I remember the WBs crowd bashing AH when it first came out too, and that was equally unfair.