Does it have the parachute system simulated?
Sort of...
If you pull the parashute the flight will end and you will be brought back to the fsx startup screen.
Game over, so to speak.
Please see the most recent updates in the "Where did the .com name go?" thread. Posts number 16 and 17.
Does it have the parachute system simulated?
I think it flyes a bit like on rails and I think a plane this light ought to wobble and shift around a tad even in calm air But that just on a personal note.
In calm air flying can really feel like flying on rails, or driving a car on a smooth road. I've experienced this many times in an Aerospool WT9 Dynamic, which is even lighter than the Sportcruiser.

Ah, i got a whopping thre eone hur flyinglessons in microlights of realworld flight experience and all of those was a bumpy ride so that where i got my view from.