Holy cow, that pilot in the video is badass. I've setup a little mission where you attack a convoy, and its become clear that I definately need more rocket practice...
As far as the in-game fuzing options, hopefully I can do some testing this weekend to see if they're even modeled.
In the mean time, I've learned that delayed fuzing is useful against armored vehicles, where the fragmentation after impact is more effective against the crew inside. (I'll see if I can find that reference).
But yes, the concept of having the munition remain intact enough to determine that it's going to delay for a certain amount time after smashing into a target is is pretty mind-blowing... I'd like to find more information on exactly how this is accomplished.