Yup, it's great fun.
Very hard though compared to Freespace 2.
Piece of Cake compared to FS2 Insane

hehe
Kidding aside...
From my (admittedly limited) experience everytime the game appears to get too hard... you are not using the strike mode right, needs some practice
The Multitarget missiles and autotargeting guns can be insanely powerful when used correctly and I suspect the missions are designed with that in mind.
Popping into Mech/Strike Mode and unleashing a can of whoopa** that obliterates a corvette or an entire squadron of fighters in a single salvo, then switching back to fighter mode and zooming away with afterburners before you get hit too much is certainly one of the most awesome features of the game heh
