Tough one, but voted yes.
Principally because of the similarity between this and 'difficulty settings'.
If you're in a 'full real' server, then there's ventrilo/teamspeak for comms (although I'm not keen personally) and the team balance should be managed by the server/admins , by making it impossible to join the numerically advantaged team, although I don't know if this is possible yet. On the other hand, some people fly exclusively red or exclusively blue, so it might get frustrating. Mind you, in full real, shouldn't red
be outnumbered? No HUD at all would be my opinion in full real, although I always set up a 'chat in/out and server' box while my engine warms up, hmmmm.....
(BTW, is there a way of checking team balance whilst flying? If so, I haven't found it yet!).
Conversely, in a 'fun for all' style dogfight server, it might be appropriate to have all the info to go with the 'friendly/enemy' indicator arrows, simple engine management and stall free flight model.
So overall, with some confusion, voted yes - ish.