Heli-Ops,
I think the two pilots idea is generally a good one if you can work it.
In close form we always found it useful to have one person concentrating on the flying, and the other as you said watching the Ts and Ps, and also the skid ball - it's easy to get crossed up with cyclic away and pedal towards or vice versa, which naturally makes photos from the ground look funny.
Interesting that you get the subject aircraft to formate on the photo ship - wouldn't it give you more flexibility for the photo acft to formate on the subject, allowing you to move around it at will to get good shots? Or am I reading your comments wrongly?
Must be interesting work, anyhow.