There is something i find useful about the AIM-4D against Frescos, wich is a range slightly superior to that of the sidewinder, wich allows you to fire from 6 o´clock at a MiG-17 slightly out of visual range if you stalk them. That would be at 4 miles, not much less (Thats WVR, isn´t it?), while the MiG isn´t aware of you and flies straight, you have a narrow window to get into weapons parameters while unnoticed. I tried that with F-101Bs, and worked out, however, it was hard, it took a good interception course to get into weapons parameters without letting them know you are there, and have an eye on airspeed, but that works on AIM-4Ds.
Anyway, in the event they notice i´m there, i allways keep my drops on, so i can fly longer than them, as by no way i´m entering dogfight with falcons against MiG-17s, and kill them as they break when they get "Bingo". However, that might result in loosing your wingman if decides to engage on his own. Mine fortunately follows me unless i order him otherwise.
As i said, that was with F-101Bs in a what if scenario, but i guess it should work even better for Phantoms.