Looking for Mr. Goodflight

I used to spend a lot of time with this little flight sim back in the day. Even though the planes looked too much like plastic scale models, they were at least well done ones. The AI was a little wonky but the missions were decent and it had a Grand-Turismoesque flying school to get you started. But what I loved most about it was the free flight. You could simply take off from the runway, bank around and do touch-and-goes to your heart's content. It also featured a surprisingly deep replay editor.

But what I'm wondering is if there is anything remotely similar for the Xbox 360. Most flying games, like the Ace Combat series, have a rigid mission-based system with no chance to fly the aircraft outside it. There is zero chance for a threat-free environment to explore the limits of the aircraft or to simply enjoy flying. I'm curently struggling a bit, financially, so don't have the resources to try everything out there. But I could find a few bucks to add the right game to my shelf.