Last week, I played in a snapshot involving early-war aircraft and a carrier attack (A6M2's, Vals, Kates, F4F's, SBD's). It was very fun. One thing I noted is that the Japanese divebombers and torpedo bombers have a tough time climbing all that high. Also, if you are too high, you won't spot the carrier group. If you want it even more thoroughly restricted, you can put in an alt-capping wind layer.
I liked the aspect of having to find the carrier group. In this case, we were told the sector it was in, and it still took us a while to find it.
As for suicide attacks, there are two things that occur to me. First, if there were two missions per frame, and if the second mission aircraft numbers were influenced by surviving aircraft from the first mission, that might help. Second, I'm not sure how survivable attacks on carriers are in Japanese aircraft. We had about 6 divebombers go in together, and while almost all of us made it in on the carrier, I think none of us made it out. Mostly, we were shot down by AA on our way out, once we were at lower altitude. Add more fighter defenses to the mix, and I'm not sure any would get out even if you lessen the AA defenses somehow.
Still, it was very fun. I really like carrier-to-carrier combat, especially if you don't know the enemy's exact location and have to find him and especially if surviving a mission would involve landing back on the carrier deck.
It would be most fun if each side is working to hit the enemy carrier or carriers while trying to defend their own. That way, you don't just hang out near your carrier and wait for the slow divebombers to lumber in.