I can't comment on the actual shape of the model compared to the real life thing as I don't have a very extensive knowledge of the Vampire/Venom family, however the model feels worth the money a little bit more than the Vampire. Sadly actually now that this is out I doubt I'll fly the Vampire, it almost seems as if it's made it obsolete. The sound set is the same which isn't so great, (sounds a bit too much like a kettle on the stove rather than a jet engine), but I can swap that out for something with a little bit more "rip and tear" in it so that's not a big issue. There are a few nice touches I notice straight away. The 2d panel is of a good high quality and the VC refresh rate on the gauges is miles better than the Vampire, it's almost perfectly smooth. Incidentally Eric Marciano's new "Radar 2.0" gauge maps perfectly onto the round radar (I assume they are radar) holes on the observers side. I've actually just fired off an e-mail to Eric and received a very nice reply and he's going to explain how to get a "square" radar gauge to fit into the round hole without clipping all over the rest of the 2d panel bitmap as well. Another nice touch is the ability to fold down the sighting glass in the VC if required, just a shame this couldn't be carried across to the 2d panel for some continuity.
I normally hate vapour effects apart from wingtip vapour however this has a fantastic effect coming off the forward fuselage when you pile on the G's, you'll have to see it to understand why I like it so much. It's well placed but is fantastically smooth and doesn't suddenly spring into existence.
The flight dynamics are very different to the Vampire, this feels much less nippy but far more stable. You can pull right back on the stick with little indication of a stall. Elevator response seems appropriate, i.e you can't flip it into a 9G plus turn at 300 knots like some aircraft. I know nothing about the real aircraft handling wise but I'm sure a bit of research will pull something up, and for an obsessive tinkerer like myself this feels much better as a "baseline" for me to tweak to my own satisfaction. I hated the Vampire flight dynamics, but these are a fairly decent set. (That's to my untrained sensibilities, I have no real world flying experience so take that with a pinch of salt).
Exterior textures are of a higher quality than the Vampire, and unlike the Vampire the colour swatches they used seem to be correct (I hated the shade of blue on the Admirals Barge, it was completely wrong in the previous package). Some good panel line detailing, dirt where there should be, nice shine, all in all it's quite good.
All weights and fuel tanks are laid out in the aircraft.cfg so you can remove them as you see fit for flight, rather than having to add them to the aircraft.cfg yourself as with the Vampire.
All in all it's a real cut above it's older brother and I'm suitably impressed. It just feels a much more solid, worthwhile package. Until now my only use for the Vampire was to whizz around in FSX due to a lack of models, now I'm sure it'll probably be retired (or more likely I'll try and upgrade it with modified gauges, effects and FDE from the Sea Venom) as I feel I've spent my £15 on something I'll actually fly from time to time rather than something that will gather dust or only be flown through a lack of options.
I always feel like I'm taking a gamble when I buy an Alphasim release. With other payware you pretty much know what you are getting based on the developer before you buy but with Alphasim it's a lottery, a few bad aircraft and general inconsistency have put me off in the past so I'm always a bit nervous until I've flown my new purchase a bit

This one is a keeper in my opinion though.