The FighterOps team used to be involved in the development of a Falcon 4 sequel. I’m not sure if this one is based on Falcon 4 or an entirely new engine. It certainly looks like a very ambitious project and I hope they’ll be able to include everything they plan. Not too sure how it will work online (no flyable opposition aircraft), but the same could be said about Falcon and Janes F18. There’s a forum for FighterOps at http://www.frugalsworld.com
Personally I am more looking forward to Jet Thunder. The Falklands, carrier ops, and a set of aircraft you don’t normally see in sims (Harrier! Mirage!).
http://www.thunder-works.com/