I have a similar opinion, the smaller tracers actually make less stuff...in the way of seeing what's happening to the target, but with tiny hit sprites too, it isn't a real advantage overall compared to AH2 IMO. Larger hit sprites, the same as AH2, with the AH3 tracers - heh, that'd be spanky IMO. The sprites do really look great, especially in 1440p/4k, very cool seeing a pile of little pings from a load of .50s hitting bombers, but again, I find my neck craning trying to see them at those res, and even at 1080p they still seem small.
I do agree, they are likely more realistic, big time, so I guess those banging their "I want teh realizms" gong won't be able to complain much about them, hah.