OK, this blog post by Rich Baker about the upcoming Angels 20 Axis & Allies game makes it look much more interesting than I thought it might be. One thing hat has been clarified is the "compatibility" of the new game with Axis & Allies land miniatures. Originally I thought this meant that the planes would be similar in scale to the existing land game plane minis but I was wrong. Apparently the planes are going to be in actual 15mm (1:100 scale) so they will be the same scale as the tanks in the land game. This is altogether different and better.
Baker mentions that there will be 20 unique sculpt depicting 30 different aircraft in the first set, including THREE different P-40s! (Flying Tiger, US and lend-lease Soviet).
These planes will be larger than most competing sets (notably Wings of War) and ccheaper as well, so I'm expecting this to be another successful launch. I'm know I'm in.
The new game will also apparently include stats for using the models in AAM, so it's a win-win all the way around.