I should probably put a disclaimer and say that unfortunetly I haven't had many games that didn't have high latency since all the populated servers are far away overseas.
I would say that the vehicle and air combat are a good start but there is certainly room for improvement for both.
I think it would be good if air vehicles had evasive manevours similar to what the classic SWBFII had which allowed for more dynamic combat then merely encircling one another all the time, and can even allow for fighters outnumbered to escape if they're skilled enough to use them well.
The tracking enemy fighter system is a bit too stagnant for it to really be useful. It would be better if you can choose who you want to track manually like in SWBFII which can allow for prioritisation of targets in massive dogfights such as bombers (if they'll ever be added). To make it less OP like in SWBFII, targets can only be tracked upon activation when the target radicle is facing a enemy fighter.
Another issue I have is the Tank combat. I know it's more of a draft rig but I feel the driver can't really do much fun then just drive. In contrast, all the vehicles in SWBFII had light combat capabilites for the drivers to defend themselves. To have something to do. Maybe adding a light turret ontop of the tank for the driver to control would work well.
Other then these missing elements. This demo is an entertaining start, and a massive achievement on volunteer staff. Congrats on finally becoming afloat.