Yeah, let us know how it goes. I tried a lot of things to find a workaround but had no success.
One thing I spotted in thamuff's and PSV_Tango's system logs was DisplayFusion, a program I also use. I have no idea how it would break transparency in certain textures (which I assume is the core issue, with the UH-1 cockpit, Hawk cockpit, smoke textures, tracers and some plane decals/labels broken as well as many fonts), and I actually tried the game with it uninstalled but it didn't help. But who knows, maybe it installs some system file and breaks some texture file format reading or something as a side effect.