Some of my favorites:
Dark Blue World -one of my favorite all time W.W. II aviation movies. I bought it on DVD when it first came out several years ago.
Battle of Britain - The Blu-ray version is now out, but it doesn't have all of the extra's or bonus materials that the 2 disc Collector's Edition has on DVD.
Piece of Cake - the entire series is on DVD and is really nice. It's worth acquiring just for the fact of having the video footage of the Spitfire flying underneath the bridge!
Black Sheep Squadron - Jack Cook's favorite television series!

Yes, even though it's hokey and totally unrealistic, I enjoyed this show when I was young and really like all of the flying scenes in it. The last volume of the series should be coming out fairly soon. The first two volumes are nice, even though Vol. 2 has no extras or bonus material. Vol. 1 has two short video interviews of the real Pappy Boyington, though!
Dive Bomber - This movie is absolutely spectacular in widescreen on a HD t.v.! I have the DVD and there is nowhere else in the world that you can get color movie footage of so many Devastators and F3F's! Visually stunning!
Captains of the Clouds - On DVD as well! A visually stunning color movie with lots of footage of RCAF Harvards, Yales, and Hudsons. Not a bad storyline either!
The Hunters - On DVD, great color Korean war film with loads of awesome F-86 and Mig (F-84) footage. This was the film that inspired Steve Hinton at a very early age to get into warbirds!
633 Squadron/Mosquito Squadron - On DVD, spectacular color footage of the Mossie. Need I say more?
War and Remembrance - this made for T.V. mini-series is available on DVD. It has some nice aerial scenes for the Battle of Midway which were done by the Planes of Fame with Hinton and crew.
The Purple Plain - a nice color Gregory Peck movie with a Southeast Asia Mosquito fighter theme. Some good Mossie action and an awesome storyline! On DVD.
I'm sure there are others that I'm forgetting, but these are the ones I thought of off the top of my head!