RVSM:

To say the T-38 is dangerous is somewhat misleading. It is the most difficult airplane in the USAF inventory to land today, except for the U-2. About 8% of the total fleet has crashed; although most of them were in the first 10 years, before some significant procedures changes were instituted. After that, crash rate went down by 400%.

But consider this:

USAF student pilots get about 25-30 hours of light-aircraft flight screening. Then, they go to pilot training, and get about 70-80 hours in the T-6A.

I send them on their initial solo with all of 12 hours in a supersonic, swept-wing, afterburning jet.

How many of you civilian-background guys would have thought you could solo a T-38 with 110 hours to your credit? I know when I had 110 hours, I couldn't have. Yet the USAF has been doing that for 48 years....pretty safely.

The T-38 is safe if you are properly trained, and fly on a regular basis, say, twice a week until you get 200 hours in it, then you could get by with once every two weeks. Ross Perot Jr owns one. Supposedly, so does Steven Jobs. Boeing uses one as a chase jet. Thornton Aircraft will sell you one (see Thornton Aircraft Company). I've seen a few F-5s and T-38s in other hands, as well.

Slice:

Lots of airplanes are flown safely without an ejection seat. The current seat actually is quite good given its age. The bigger factor is most people have no experience with a very thin wing with short span. If the T-38 had leading-edge flaps like a Viper (or even an F-5B, F-5E, or F-5F), it would handle much nicer at high AOA. And you have to fly at high AOA to land it properly.

The L-39 is T-38-ish at a fraction of the cost, but commensurately lower speed. It has a fatter wing and longer span, but people still kill themselves in it. I like the L-39...I'm just saying the slower jet isn't necessarily any safer than the T-38.

The Alpha Jet is a fun little airplane, and 3 years ago, a guy in Washington State was importing them. Almost as fast as a T-38, faster than the L-39, and twin-engined. Probably the most mechanically reliable aircraft in your list.

Fighters: from a practical perspective, hideously expensive to operate. Most without military experience have no idea how often these things break. The T-38 breaks about every third or fourth flight. It may be minor--or it may be expensive.

But nothing is more fun to fly than a fighter with seemingly unlimited thrust and unlimited lift and g.

Here's some estimated costs per hour to fly your list:

Su-27: $15-20,000/hr
MiG-29 $8-12,000
T-38 $3-4000
L-39 $800-1200
Alpha Jet $1200-1500

The Collings Foundation at Ellington Field, TX (Houston) will sell you a ride in an F-4D or TA-4J. The Phantom is $9000 for 45 minutes, and the A-4 is about $7000.