Personally I don't have a problem with either the halos or the flames.
The human eye picks up light from a real source extremely well, and it stands out (hence the reason for things like daytime running lights on cars). This really isn't properly captured in photos or sims. The editing job you did is nice, but makes it look like the light is not on when in RL it very obviously would be.
The flames are also a descent compromise, IMHO. Realistic or not, no transparency at all just wouldn't look right, I think.
Beyond that, yes campaigns are good. The new movie intro type thing should allow for some very immersive campaings, both from the devs and from the community. Also, an F-18 or whatever in the future would be a great addition. I'm not holding my breath, though.