I would personally say LtF3 is an improvement all across the board from LtF2 EXCEPT the "going up vs going down" element which is a matter of preference.If this game had LtF2's gliding mechanic, I don't think someone could argue that the 2nd was really any better.
I didn't get this game at first but now that I understand it, its so fun. It's definitely harder than L2F2 but I love it!!! If anyone's wondering Classic mode is 200,000ft and I finished story mode with Russian Roulette, Jet body kit, 2 sonic booms, 1 shuttle reactor (you don't need it), and 1 F1 bell nozzle (don't need it). Thanks for another great L2N, I'm already looking forward to L2F4!!!