Currently, the code gives you plenty of advantage when fighting from a flying position. That includes not only actually flying, but also being mounted on a flying pet.
The main of those advantages is that you can fight a single mob without the others attacking you.
Note that this option should not be abused. Like everything else, you should first think to see whether it actually makes sense before using it again and again.
If you do it against ogres for 10 minutes, that's fine ... but then even dumb ogres would react by throwing stones.
If you do it against drow, it wouldn't take them even 10 minutes to find cover, or get a wizard or priestess to bring you down.
In other words: do it against the odd giants you cross while travelling in the wilderness, it's fine. But it's NOT FINE to do it repeatedly to train continually without really endangering yourself.
That's especially BAD to use this "trick" so you can solo-train on mobs that would otherwise require you to bring along other companions.
Sorry, I am guilty. Thank you for posting this 
I was a little worried for a bit. I thought I was being picked on *cries*