I think the question that is missing here really is " did the Pitts pilot , { who nipped in on the quick} have time to have a real lookout before taking off , given his speed of action and the poor lookout available from a biplane configuration ? "
That would be my main concern under those circumstances.
What you should have done was opened up and outclimbed him, rolled inverted 2M above his cockpit whilst simultainiously taking a polaroid with one hand and giving him "the bird" with the other.
(probably wouldn't do much for safety but would ensure a place in any remake of top gun though) !
