I'm not sure, it seems to be what they call the idiot view. I don't mind an outside-the-plane view like in Afterburner, but this is sorta... to the left and to the back, the way to line up your sights with an enemy plane obvious.
You know, It's completely unrealistic and is by no means attempting to model real flight, but it looks really great, runs well and is pretty fun. Crazy story, but I've been staying up too late at night recently playing "one more mission!"