Thanks Zephyr, Hotshot, and all you guys here.
I started using the old JKPFA 4.55 lib and have three missions created so far. I think I'll make the switch to the beta - hopefully the existing aircraft/objects I used won't be a problem. I spent hours researching military information for the campaign so I hope you guys enjoy it. I've put in about 4 weeks work (time permitting) and so far and only polished three missions. Time to go back and re-engineer for the new lib I guess.
I created a few custom Airbases in Bulgaria, Romania, and Moldova. It's got a relatively current feel with their existing militaries, but the campaign has a bit of an alternate history with some cold war assets still in service.
I've been inspired by P.Mok's old CIS missions and the storytelling used, so the campaign focuses on mainly three central characters who fly for each air force with detailed briefings about the political situtation and day-to-day affairs of their life in their respective air forces. Moldova doesn't exist in the list of countries unfortunately (could this be a future lib addition?) so I used Romania as the owner for those assets since Romania and Moldova have (historically) pretty close ties to one another.
If I may be bold enough to ask for the addition to Moldova so I can use Moldovan assets in the campaign that would be exciting to me, even though their role in the overall story will probably be somewhat minor.
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It arrived today, yet to install it. 
. No worries though, I'll just edit the mission files and replace the old objects that don't exist anymore manually. I'm hoping to get the first 5 missions done soon (end of Jan is my target date) and I can send them to you guys to try them out if you'd like.