Please see the most recent updates in the "Where did the .com name go?" thread. Posts number 16 and 17.
The old alphasim model is about the best we have at the moment, it's vc is quite nice and the model is ok though some new textures and bump mapping would not go amiss if only I know how to do it!
XPand has a freeware, native one in the works. Haven't heard about it in quite a while though.
Milviz has one in build. Hadn't heard much on it in a little while
VC shots:
http://www.milviz.com/forum/viewtopic.php?f=3&t=511&view=next
Im not too big on flying aircraft that are just "guess work" either, I like my aircraft as realistic as possible.
Freeware is nice, but if the Milviz F-22 is on par with their F-15E and F-15C (which I'm sure it will be), then you guys are going to look at this model like you did your bicycle, after getting your first motorcycle.