Given the way more advanced drones are coming up, they might not have to hang out that long. That said, its a decent enough aircraft for a core of our needed capabilities for our defence.
I had this argument with a mate the other day. It seems pretty obvious to any outside observers that the F-35 is over promised, over priced and under performing (crippled stealth, poor performance, compromises to support the B and C models). If it smells like marketing....
The telling thing is the way the decision was made, no evaluation, no tender, just sign up to make the US happy. Hardly seems like we would get bang for buck if we only buy uncle sam and they know it. If the flankers (especially the new PAK-FA versions) are going to be so good and covering the whole region, why not take up a license to build Aus Flankers here, we could have 150 of them with money to spare instead of the F-35s plus a home industry. I know it would never happen as a US ally, but its certainly a better cost option.
That said, has their been a weapons program since WW2 that did not have significant cost blowouts, overhyped delivery and late completion? Is this just special because its the biggest one yet?