The F-35 programme seems to be a bit similar to some other projects that seem a good idea at the time, eg: restoring an old car. By the time you realize that you probably shouldn't have gone down that road, you're already too committed to back out.
For the first time the West has put all their eggs in one basket, and the question is whether we're relinquishing our air superiority for the next twenty years. Supporters of the F-35 quote stealth, technology etc. as winning the day, but it does look a bit like the basic airframe and power plant might be a bit of a dud. Interesting to read a quote from one of the top U.S. military people involved with the programme ' never again will we build a fighter while we're still designing it'.
One problem with relying on stealth is that the opposition is currently ahead of us in that field and radar technology as well. Possibly by the time the F-35's are fully operational, the high tech aspects of it might be obselete, leaving us with a slow, poorly armed, un-maneurevable easy target.
Another question is - is dogfighting really obselete. Only the West seems to think so. The Russians for example have always subscribed to the theory that eventually it will always come down to a tangle. They still put a high emphasis on dogfight training to this very day, and in doing so, push their aircraft way beyond the limits that Western pilots are allowed to. There is still a possibility that, stealth or no stealth, everybody's run out of missiles and they've all missed their targets. In that case, the only option for our little blowflies would be to bug out. Only problem is that the Sukhois are faster and they still have guns as a reserve.
And Kiwi303 is right on the money - whether Russia, China, India or any other capable adversary, all they need to do is throw junk fighters at the F-35 to run it out of missiles, then send in the big guns.
Another possibility is that by the time the F-35 is fully, truly operational and combat capable, the T-50 will be being sold in an export version to countries in our region. We're not allowed to buy them, so it looks like we might be up s**t creek without a paddle for a long time. We'll just have to rely on everyone liking us.
But that's air to air combat. Another issue is that the West has fallen way behind in air defences. The opposition's surface to air superiority and jamming capabilities are another big concern, effectively neutralizing aircraft like the F-35 as a ground offensive weapons system. The F-35 would be a good capable aircraft against third world countries, but I doubt anyone would seriously think of putting them up against the real players. Not without a lot of fine tuning anyway.
Cheers, Willie.