Well I spent a few hours last night playing the actual game and I was impressed with the flight dynamics. At one point my viper got stuck in "glide" mode and I was thankful that I didn't have to come in hot for a landing. I hade to come in slowly and use the full 360 degrees of vertical and horizontal axis thrusters to land safely on to the deck. It took a lot of care. Very newtonian. The only thing missing is gravity.
I'm not sure if getting stuck in glide mode was a bug or the result of damage but it's nice to know that you can switch to a pure "float around and manually squirt thrusters" mode. It makes the possibilities in combat really interesting.
FYI, in case you didn't get it from the above, glide mode is effectively turning off the computer assistance in the viper.
WRT the range for engagement, it is all within hundreds of metres by the look of it, but then if that part was realistic it would kind of suck as a FPS.