I just picked up a copy of this in the swapshop. I've been interested in it for a while - I'm the only flight instructor at our field, and I'd like to have something cheap I can loan to students until they get their own sim.

I haven't received it yet. I did read the archives of the Cockpit Master list - here are some excerpts.

*Some* of the aircraft modeled are quite true-to-life.
Graphics are pretty good.
CM tech support leaves something to be desired.
Due to contractual issues, none of the Multiplex planes mentioned in the ads are supplied with the sim.
There are bugs with the software's support of transmitters under Win 2000 and XP. It doesn't sound like those bugs will be fixed anytime soon.

Plenty more information available here: http://www.topica.com/lists/cockpitmaster/read