ORIGINAL: Red B.
Even though the clip is an excerpt from an commercial or movie I would say that the flight is for real. The photographer used a really long focal length lens to compress the perspective. Along the same lines here is another classic "wet your pants" video:
[link=http://uk.youtube.com/watch?v=Wpq4Tu2NnrQ]Spitfire[/link]
Holly friggin' s***. The presenter gets reasonably unsettled. Funny stuff.