I know it is possible to script a Capship battle, but is it possible to controll a dogfight? This would be to get dramatic shots of fighters fighting or of a bomb hitting just-so.
You can do it with scripting :hmm:
For instance, if you wanted to have a dramatic shot of a bomb hitting, you could figure out which side of the bomb was on compared to the ship and put the camera in a random position on that side, and have it face the bomb.
The problem is that FS2 does not have the kind of spline modeling that's needed for that kind of thing. The new camera system is a step in that direction but it's not as good as a 3D modeling program for designing that kind of thing, and it doesn't allow for manual control of ships. However, you could concoct something with the manual object and camera position set functions, you'd just have to do the mathing yourself.
So I think if you just want to get 'dramatic shots', you've got that capability already. It was done for a long time and Star Wars is a good example of a film that you can do a lot of the shots in with just what's in their already. But if you want some kind of helix crane shot, advanced camera shake, or plan scene kind of deal, that's a little beyond the camera system at this point.
(eg you can park the camera at a low angle and pan as a group of ships jumps in, flies past the label, and get a closeup of their marking as they fly by; but a zoom-and-shake that's traditional of BSG is more complex than what you can usually do with the camera system. Yes, you can zoom with the new code, but it's the smooth shake that creates issues.)