I've tried afew quick combats with the tracers and long range damage effects off and so far I like it, it makes getting kills that much more hazardous and rewarding and it makes it seem as though the combat is more primitive as if they haven't worked out how best to kill eachother yet, which is one of the interesting things about WW1 air combat for me. 
  
Also makes attacking two seaters an interesting event when you can't see where they're shooting, I imagine it will be the same with ground attack also. 
  
Great idea Creaghorn.  
  
(It also makes it seem like one of those old war films where they didn't have all those CGI tracers and the like, which is fun.)