I always figured that, in a full-on war like the Kilrathi war, the desire for replacement pilots on the front lines would outstrip the supply from any 'Top Gun' style acadamy style training program. It would be like the good'ol days of WWI and II - give 'em a weeks basic training and get 'em in the air. There's no point wasting a couple of years acadamy training if they're going to be turned into spacedust in five minutes. That, to some extent, could be used to explain the high kill scores recorded by a number of pilots. A new pilot runs a pretty fair chance of buying it in the first few missions. The old survival of the fittest policy means that, should you survive long enough to gain some experience, the chances are you're pretty good and should go on to make a high score. Most of the enemy pilots you're up against will also be green, so you're only really in trouble if you run up against a fellow ace.
As for a medal for ejecting - that seems fair to me, depending on the circumstances. Seriously, no pilot is going to eject unless he has to ... I'm sure they all have a fair idea what happens to pilots picked up by the Kilrathi. If you are forced to bail, then the fighter is probably as good as lost anyway. There's no point losing an experienced (or really any) pilot as well. If you eject needlessly, then obviously they are going to warn or court-marshal you. The ejection medal is like the purple heart - noone deliberately goes out to get injured in combat, but it does happen.
(btw. it's been a long time since I played WC1, but I seem to recall you could get a medal for being injured in combat?)