I don't like it. I more than like it. I ++LOVE++ it.
Mobile wings also means a shifting center of mass... the ability to do barrel rolls, banks, climbs, dives, etc, would be incredibly variable. Even if the value of the armor and weapons is patheticically weak, the maneuverability would probably more than compensate.
I can just see this fighter dancing around Kilrathi (and Terran) fighters alike. Would be a lot like comparing a Macross veritech VF-1 against a 2010 F-16/F-17/etc (or even a Macross Frontier VF-25/VF-27 against a 2010 fighter.
Instead of having to stop in order to pivot on a dime, it could shift its wings and basically throw its mass one way in order to sort of make an insane turn in another direction. G-forces and stresses on the pilot aside, a Firekkan (a bird-humanoid that still has flight capacity) would still be better suited to such things over a Kilrathi or Terran since they not only fly but retain natural flight.
In terms of the cockpit, instead of the traditional "sitting upright", I'd see it more like a low-rider way-leaned-forward racing motorbike, perhaps with a semi-mechanized flightsuit where the Firekkan's wings are used to help control the fighters wings.