I really like the Falcon 50 as it's such a good model with a beautifully made VC so I just took it for a spin to check out the dynamics (instrument zoom panel for clarity)...
[img=800x600]http://img440.imageshack.us/img440/8629/falcon50fl4502rq4.jpg[/img]
I took her straight up to FL450 following the guidance given in the readme of the 2nd patch for FS2002 and she achieved her cruising level at Mach 0.80 with no problems.
My FS2004 is set to full realism and the only thing I changed from the default was the aircraft weight as she started off overweight when loaded. I reduced fuel to 50% since the readme mentions realism with regard to high weight performance.
Clearly she won't reach FL450 at max weight so a step climb would be required if you're flying a full weight sector.
I don't know if the version on the website includes the FS2002 patch number 2 as this has an improved air file and aircraft.cfg? That's the version I've got so it does work in FS2004...
The second patch (if it isn't included) is available at
http://library.avsim.net/download.php?DLID=14395and the flight guidance in the Readme is quite useful (this is an extract only):
TIPS ON TAKE-OFF, CLIMB AND LANDING
Though powerful in the right circumstances, the Falcon 50 is an older jet and does not have excessive power especially when fully loaded with passengers and fuel. If you are taking off fully loaded, acceleration will be quite slow and you will need a reasonably long runway (Meigs is far too short when fully loaded). Make sure to trim up slightly (with the pointer level with the bottom part of the small white marker on the trim gauge). At 116 knots rotate smoothly back and if trim is correct the Falcon will take off very elegantly. Clean up the gear and flap as soon as possible and climb at NO MORE than 1500 fpm until you have cleaned the slats and accelerated to well over 200 knots. Now you can set the maximum possible climb rate of 3400 fpm (after further acceleration to 230 knots plus). Do not let the thrust exceed 97-98%. You will need to gradually reduce your climb rate as you pass 8000 feet. At 10,000 feet you can increase thrust to a constant 98% N1 then at 20,000 feet increase again to 99% maximum.
The last stage of climb, from 30,000 feet up to the cruise of 35,000 feet will need no more than around 1000 fpm and you must keep the speed here to at least 260 knots or mach 0.72 to 0.74. At FL350 accelerate (slowly) to Mach 0.80 cruise and set no more than 98% N1 to maintain this speed.
On Landing, the Falcon Gear and Flaps have a lot of drag and the aircraft will react slowly to thrust changes and control inputs with a high weight. With full flaps and gear down you will need as much as 75-76% power to maintain glideslope.
Please note, we designed the Falcon to feel heavy with high loading. With a light fuel load and high speed (300 knots plus) the Falcon becomes much more lively and at this weight and speed you can actually achieve (with a little trim) a rapid climb whilst pulling up to 5 G. Similarly the previous sedate roll authority will increase with less fuel in the wings and less weight.So I think she's still got a bit of life in her yet

Oh, and Manu, the beacon light is on the overhead panel marked 'AntiCol' - it controls both beacon and strobes
