Oh yeah. Here's how MP goes:
2 MP modes: one is just a straight up no respawn dogfight.
The second is Arena, which is 4 teams of 2 pilots. Each team has an island base with runway, AA, SAM's and a control tower. You also have a carrier group: carrier, cruiser and 2 destroyers. You have an AWACS plane at high altitude spotting for you a little. Other than the AWACS, they'll all defend themselves with both guns and missiles. (automatically, you can't control them)
Each team has a bar of points that gets reduced when you get shot down, any of your resources are taken out or damaged. (you can see that on that last video I posted, red, gold, blue, green teams. As you do well, you can restore your bar a little bit. When a team's bar is down to 0, that team is out. Continue until there's 1 team left. All bombs and missiles have their own properties and uses to be used effectively. No torpedoes, but you do have anti-ship missiles and bombs for the ships. AGM's can be used but obviously not as effective.
There's also a center island with an airstrip that is neutral. Anyone can land there to refuel/rearm/repair. That's where DT and I were in that video when we landed at the same time. You can land on your home airstrip also, and planes equipped for carrier landings can also use your carrier until it's taken out.
If you don't have 8 players, a team will be filled in by AI players, but they aren't very aggressive vs. other fighters. They'll mainly just bomb.
The map is always the same, but varies in size randomly and somewhat based on number of players. It's over water, so the space between islands is what changes. A room set for 8 players is a LARGE map that takes a good long while to get across. Some planes will need extra fuel tanks, others have more capacity onboard. In your loadout, you can change your starting fuel amount as well as add a tank. Run out of fuel, crash or get shot down and you respawn at your home base to take off.
Altitude range is significant and effectively used vs radar. At about 42,000 ft, you're well above the clouds and starting to see stars above you. Keep on going to over 80,000 ft and you'll see more and more of the curvature of the Earth on the horizon and it's almost like nighttime.
Also the game shows the difference between your forward speed and air speed over the wings. You can be at significant altitude, plenty of speed, but the air speed over the wings drops, taking away your lift and then you drop even though your speed is significant.
More maps would have been nice, but the game is very well done so it still stays fairly fresh.