Well, maybe. I do not fly E1 online, just E3 to get used to the cannons, so maybe with E1 is more effective against fighters, what I would suppose.
I picture for myself to first pierce the fuel tanks of the Hurrice (which was prone to catch fire in the gravity tank infront of the pilot) with armor piercing rounds, and then ignite them with the "Beobachtungs" rounds, but I guess that is just my imagination...