See, I do all that already...
Typically I'll line up so I pitch upward, altering the throttle until I am turning faster than the target, then apply downward strafe/thrust on my hat. This rarely works fast enough, so I hit reverse-thrust as well, which seems to work in most cases.
I dunno, maybe it's the cheap stick and lack of sensitivity, but I usually seem to overshoot the target a lot. I'm not terrible and I do make some money from bounties... it just takes me far too long and they manage to jump out half the time!
That and whatever those Cobras are packing to blow me up in two shots...!!!