Still no joy

The view is squished top and bottom. I even tried with the first KA-50 value set to 30.0
Double checked the Options setting in game and also tried starting as administrator.
This is the section you were referring to, I assume:
-- Camera view angle limits {view angle min, view angle max}.
CameraViewAngleLimits = {}
CameraViewAngleLimits[Su_27] = {20.0, 120.0}
CameraViewAngleLimits[Su_33] = {20.0, 120.0}
CameraViewAngleLimits[Su_25] = {20.0, 120.0}
CameraViewAngleLimits[Su_25T] = {20.0, 120.0}
CameraViewAngleLimits[MiG_29] = {20.0, 120.0}
CameraViewAngleLimits[MIG_29K] = {20.0, 120.0}
CameraViewAngleLimits[F_15] = {20.0, 140.0}
CameraViewAngleLimits[A_10A] = {20.0, 140.0}
CameraViewAngleLimits[KA_50] = {20.0, 160.0}
CameraViewAngleLimits[A_10C] = CameraViewAngleLimits[A_10A]
function GetCameraViewAngleLimits(iType)
local p = validate(CameraViewAngleLimits,iType)
return p[1], p[2]
end
function SetCameraViewAngleLimits(iType, viewAngMin, viewAngMax)
local p = validate(CameraViewAngleLimits,iType)
p[1] = viewAngMin
p[2] = viewAngMax
end
CameraAngleRestriction = {}
CameraAngleRestriction[Su_27] = {1,60,0.4}
CameraAngleRestriction[Su_33] = {1,60,0.4}
CameraAngleRestriction[Su_25] = {1,60,0.4}
CameraAngleRestriction[Su_25T] = {1,60,0.4}
CameraAngleRestriction[MiG_29] = {1,60,0.4}
CameraAngleRestriction[MIG_29K] = {1,60,0.4}
CameraAngleRestriction[F_15] = {1,60,0.4}
CameraAngleRestriction[A_10A] = {1,90,0.5}
CameraAngleRestriction[KA_50] = {0,60,0.4}
CameraAngleRestriction[A_10C] = {0,90,0.5}