SF2:V is good. I pretty much play that one stock + the latest Green Hell terrain mod.
The campaigns are limited dynamic. Basically, the campaign runs itself like a simple strategy game while giving you generated missions from 9 different types (depending on what plane you use). The missions will always be different, with different targets, enemies, friendlies and other missions going on at the same time. But, they do tend to feel very similar sometimes. Don't expect anything near as elaborate as Falcon 4.0 . Your success or failure will have an effect on the campaign, but with the historical campaigns in SF2:V, you're not going to change the overall outcome.
...and your pilot will progress in rank, get medals etc.
System Vitals: Intel Q8200, GTX560, 4GB DDR1333, Win7 64bit
Sims: Race '07+, GTR2, GTL, StrikeFighters2 (complete series), F4:AF, EECH, IL2:1946, Arma2+OA, X-Plane, MSFS X
Games: Torchlight II, Batman:Arkham City, Skyrim, Mount&Blade:Warband+F&S, Fallout 3, STALKER COP, Medieval II