Like I said in my review, I think the realism is similar to that os FSX. I find the graphics the same etc. Down point is a serious lack of any sort of extra aircraft, and as Ian posted int he review, no helicopters, no jetliners etc. I'm sure they will come out later, if you are willing to fork out $10 per aircraft.
For a free game, I can see myself playing occasionally. For real flight characteristics, stick with Real Flight. For more fun mission type stuff, wait for World of Warplanes to come out (will be awesome!).