Being in a similar place as you, OP, (except without a pilot's license [you lucky dog] :P), I feel like I'm well-placed to say a few things.
1. Cold start procedure isn't all that bad. A little longer than the one in Falcon 4. I watched the video once, wrote myself a checklist, and haven't had any problems. :P
Unless you have earlier realistc helo sim experience, though, be prepared for a few hours of flight before you're comfortable (maybe even if you do--the flight model here is rather more detailed than any of the previous ones I've seen). The Ka-50 is a nimble little number, and that means that until you get a feel for the controls you'll be madly chasing the nose around the sky.
3. As for out of the box, well, things all work, and the stability is incredible. The way ground units react to being attacked by air units is kinda off, though, and (although this isn't really a problem likely to be fixed in a patch) I really *really* wish there was a dynamic campaign engine.