The Hornet is pretty alright now. It's still missing two key things for me, ATFLIR and the HARM, but overall it's a usable platform now that can operate in medium threat environments if you're smart.
Sure, he can run away from me, that's fine, I win by default then. The Phoenix doesn't really scare me. An F-14 locks me up in lethal, I go defensive and watch his Phoenix not be able to burn the energy to get to me because I'm a fighter not a soviet era high altitude bomber. In AIM-120 range it comes down to pilot skill, and if it gets to the merge I have all the advantages except raw power. If I don't kill him in two turns, I may be in trouble, because he can out zoom me, but I have the much easier time getting the kill with the AIM-9X and JHMCS combined with my better turn rate and ability to push the jet to the edge without departing controlled flight.
I think the F-14 is gonna be rad, I just don't think it's going to be the "Hornet killer" so many people crow about it being. The main strength of the F-14, range, doesn't really factor in with DCS. Plus there is something to be said for being a single seater and having complete control of the aircraft versus trying to coordinate with a friend and/or an AI.