I bail when I am being cheesed, but most of the time I just slam into something with 0 frames per second long before being shot at lol... Incidentally, I am open to donations of computer parts better than my core2 2.3ghz/gts450 1gb gddr5/8gb ddr2 system.
Seriously though, bailing is annoying, but so is lockonside. Fighter agianst fighter, I'll only bail if the other person resorts stopping in mid air and turreting - damn that mechanic lame, stupid, and defeats the purpose of flight mechanics...
I agree with the NC guy that e-sports in ps2 would be great as a recorded and edited series based on actual game play, much like a trailer combined with sports commentary. Add in some humorus stuff, like the Red vs. Blue series, Command Center, and some cartoon shorts, and you've got a really enjoyable media product about an online game that people can actually take part in!
Making arena matches, as LC pointed out, utterly fails at setting PS2 apart from all the other similar games, while also having nothing to do with the actual game itself. Smed had the e-sports idea right when he said it would be more like reality TV, because that lets PS2 be enjoyed for what is.