Finally got to play the game. Flightstick is great. It's a bit large, and the suction sometimes doesn't stay stuck during brisker moves, but overall I find it adds a *lot*. I'm a sucker for peripherals, and really enjoyed Guitar Hero II thanks to the guitar (and I usually have zero interest in music/rhythm games) and had some good fun with Forza2 with the wheel (and I usually have zero interest in racing games/sims - Mario Kart being the only series I enjoy).
I used to really enjoy X-Wing vs Tie Fighter with a joystick, even though I was really bad at the time (which I can partly blame on the bad quality of the joystick - no more MS sidewinders, ever).
I played the demo with the controller, and they were more than good enough, but I was especially excited about getting the flightstick. Trying out the tutorial to test out the controls, it was a bit difficult to get used to. I... failed the tutorials on some occasions (such as trying to turn and stay within the rings -_-). Having going through the tutorial and the first two missions, I'm starting to get used to the controls, and I find them to quite add to the experience. I don't think I'd be able to go back. Maneuvers like G-turns can be quite effectively pulled off with the flightstick. I'll also pull out the immersion card. Playing in cockpit view, I was pretty hooked within the game. At some point, I found myself physically slightly ducking down as I evaded a missile that just passed above my plane. Which was awesome.
I played the first 2 missions on hard. It's not especially difficult, but there's a decent amount of challenge, enough to not bore me. I've had to replay them a few times. It was nice to see myself get downed within 5 secs of the first mission by missiles - that was my main concern with the demo; no risk of dying. Most of my deaths, admittedly, were from crashing into immobile obstactles. Still, I'll likely be replaying this through all the unlockable difficulty levels.
I played the two coop missions, which were great fun. A lot of stuff going on, and the respawning system (losing time per death) seemed to work well. I can't wait to play those missions in full teamwork mode with some buddies, rather than going rather FFA-ish with randoms. It's a real shame there aren't more of these. The campaign in coop mode would have been AWESOME.
I also played one team battle (8v8 or something). I'm not usually a PvP gamer (though I've been getting a little into Halo3 team PvP), but I found that to be good fun. Missiles flying off everywhere while I was trying to dodge them from every direction via the radar. This game online will probably have good lasting value for me.
Music so far is good stuff.
The story is hilariously bad. It's a shame, since good writing and VA could have had potential.
Overall, as a newcomer to the series, I'm very impressed. If the premise of a flight action game intrigues you, you probably won't go wrong with this (from early impressions). If you can afford it, I can't recommend the flightstick enough. It's awesome. I'll be sure to support any future titles from the series for the 360, including remakes.