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The enemy fighters usually circle around to your rear, climb 300 feet over you, and fly at 80% throttle until they make visual contact with your plane. Then they do a power dive. This gives them great speed so that they can strafe you and get away before your front guns can splatter them. This works great against your fighters but your bombers have a rear gun. I beat the game on the toughest level using only bombers with this trick: Fly at 100 feet at 50% throttle. The enemy will circle around to your "six", even enemy bombers will do this. Now hit the L or R button. This gives you the rear gunners view. sit still until you see a black dot. move your gun up just a hair, just the teeniest bit. Wait until you hear his guns and then start firing. As you start firing punch the accelerator up to 100%. The enemy will go boom.
If you're using your bombers for air defense, what good are your fighters, especially the older slower ones? I like to take a couple of bombers with 1 bomb/torp each to handle the air defense and crater the target (if they live). Then I take four fighters loaded up with rockets. And one last bomber with much ordnance to finish the job. The first two bombers use my rear gun trick to splash the defense. Then I fly the fighters in at maybe 80% throttle, so I can steer away from the guns. I use my rockets and machine gun to take out the guns and my fighters get shot up but its ok, there are plenty of fighters. When there are few guns left I fly that last bomber in (torpedo vs boats, dive vs struct) If his attacks fail or he gets splashed, I crash a fighter into the structure and that ends it.