ops sorry, I changed my mind while you wrote your post AndyJWest and I deleted last post, I'll repost here;
http://www.flightsimaviation.com/rul...speed_TAS.html
In this link it say 2% in #3, but after I checked #5 that seem more accurate, it shows a significant difference.
I tested with a Mustang Mark III 100% power, at 27500 feet in IL2 it show 620km/h TAS (344 knots), and 380km/h IAS (211 knots)
#5 27,5*3 (82,5 )+ 211 + 7 = 300.5 knots TAS ,difference is 43.5Knots.
It got me thinking, wouldn't this make it more fun to fly at higher altitudes, if this is more correct, it would sure improve flight, because this would give a much higher IAS, and that would reduce speedstall problems at higher altitudes.