I tried and liked RC Plane Master enough to buy it. It was my choice as I am not willing to spend a lot of money to fly on the computer. I'd rather crash a cheap plane a few times instead. So it seemed to be a very good simulator for the price ($39.99 US). With registration you can download 21 planes and 7 landscapes. There is also an expansion pack ($34.99) with 12 more planes and 2 more landscapes. I do not have the expansion pack yet. They also sell a Parallel Port Interface Cable ($29.99).
The flight characteristics seem to be very good, although I am just returning to R/C and haven't started flying for real again (hence, the reason I did buy a simulator).
Although you can edit the physics of each plane I would also like to be able to create my own. Don't know if this is something that will be available someday or not. I haven't asked yet.
I am pleased with my purchase, though.
Here is the RC Plane Master website:
http://www.realitycraft.com/
Bob