Every single sim Ive ever looked at makes flying incredibly difficult with an exterior view selected, unless its directly behind the plane, and even then, without the instrumentation, its not a view you would want to be using in a conflict situation. Someone with a TrackIR sat in the seat with all the tools of the HUD etc is instantly at a superior advantage every single time.
Honestly, PvP and multiplayer should add to a games breadth, not be used as reasoning for removing it. If someone is in 3rd person, flicking their camera all over the place to find you, so what? Shoot him! You have the instrumentation, the radar, and best of all you are in complete control of your ships assets, unlike Mr 3rd Person!
Its a beating stick that really should be put to bed. It's potential for exploits can always be worked around anyway, but I want to be clear - if there isn't a fully functional 3rd person camera (ie it is nerfed to the point where you cant actually use it for the purpose most people are actually asking it for - vanity shots as you flyby asteroids or stations etc) then don't bother at all. 'After the event' footage wont do it - I want a LIVE 3rd person rotatable camera than I can control and zoom into the ship, or to a reasonable distance to capture the scale of my ship to larger objects.
If someone happens to be using it in a combat situation, and you still can't kill him, then you were probably going to die anyway.
And if you don't agree with the above comment, go play some pvp in an online flying sim, or ARMA, play purely in external view and see how long you last.
It offers less of an advantage than having a better PC, or a TrackIR or using a HOTAS.
As for immersion, for the hundredth time (I would imagine given how many pages this has gone on for) don't hit the external camera view, voila, immersion resolved.
If much more serious games like Microsoft Flight Simulator, X-Plane, ARMA, DCS & IL-2 Sturmovik et al have players that don't have an issue with external view, then Elite players and devs are just blowing hot air IMO by stubbornly not including it.
FD will financially benefit too by actually selling more decals and skins, I'm certainly past the point now of buying skins purely to support ED, I've paid enough now. From now on I need a visible & personal benefit to future vanity item purchases.