The Hawks are still the favoured mount of the Red Arrows and will probably remain so for a long time to come. I can't think of any other suitable RAF aircraft to replace them. A C130/Hercules team would be quite spectacular, and one which I would prefer to watch from a nearby reinforced concrete shelter.
The most memorable formation display I have seen was in 1960 at Wethersfield by the USAF Skyblazers F100 team. For sheer aggresive presentation and noise they took some beating. Nowadays they have tightened up a lot on aircraft displaying in close proximity to spectators especially since disasters like Ramstein.
'Find your enemy and shoot him down - everything else is unimportant.'
