I think it would be quite beneficial to be able to "lock" a point of view. Example: while extending up and away in your Mossi after dive bombing that pesky T34 infiltrating your town, you look over your left shoulder and begin your long turn to the left and try and keep that T34 in sight.... but the distance has gone beyond 1.5k out and you have now lost sight of the T34's icon... you "lock" the POV and while your Mossi completes it turn you view is locked in the same spot until you unlock it. Think of it as an auto "F8" view.
Another good use would be while attacking bombers and performing all those funky high rolls and wide turns. Heck, even in dog fighting it would a big help.
I have my hat switch programmed and I use it well.. but sometime I get a bit turned around and when in a real plane it seems to be much easier to keep oriented.