The real answer is “it depends.” But first, about flight hours...
In the National Guard the amount of flight hours you are able to accomplish is variable but low, no matter if you are commissioned or warrant. Without being a full time IP or MP, either track is likely to get around 90-110 hours a year. (Source: IP Supervisor and AASF Commander). While a warrant in a company will likely fly more during drill and annual training, during the AFTP week flying is primarily an availability calculus. There is little difference in M Day flight time between warrants and commissioned during The week, and quite honestly, when I run a CAFRS report across the board there’s not much difference across the entire year. Additionally,unlike active duty it’s a greater possiblity for commissioned officers to become IPs, IEs and MPs in the Guard.
However, if you deploy, it pretty much goes back to the active duty paradigm where the commissioned officers outside a flight company barely make minimums, if they fly at all, while the rest fly.
So if you remove flight time from the equation, what sort of leader do you want to be?