The blinding sun effects in CoD is the best I've ever seen in a flight sim. TrackIR with its 6 DOF can be put to full use by using the overhead canopy frame to obscure the sun for a little better look at the sunward sky.
Spotting aircraft IS difficult, it's VERY difficult as we all know. Some tips for spotting enemy aircraft:
1. Be alert for flak. The black stuff is inaccurate, but it gives a heads up of an enemy presence & flight direction in the general area & altitude. The nasty white bursts of flak are VERY accurate -- track those white puffs and you WILL see the enemy!
2. Fly high and fast. Down low it's actually easier to spot other aircraft against the sky, but you're also vulnerable. Check 6 constantly, not occasionally. This includes your high 6 and low 6. Every 30 seconds or so I rudder left, then right, while looking behind for anyone sneaking up from below or maneuvring to dive on me from above.
3. Despite what my signature says, if you see a 109 in your mirror -- close your eyes tightly: he can't see you when you do that. Also sing "Rule Britannia" or something suitably patriotic. I toggle off my mirror to improve frame rates, anyway.
4. Keep your monitor resolution low. You probably do, anyway, to keep your frame rates up. Low res = bigger pixels = easier to spot distant aircraft.
5. Online play: fly with a buddy and use Teamspeak. Fly side by side about 500 meters (or more) apart. It's a ton easier watching each other's 6 than your own. Plus, if attacked your buddy can call out which way for you to roll so he can then do likewise onto your attacker.
Hope this helps. Rule Britannia!