I can't speak to any inaccuracies with the mold and the variants its supposed to represent. However, I think Witty does make what is perhaps the nicest 1:72 F-16 -- I have two, which you can see here:
Photo Album
The fit/finish are excellent -- only drawback to me is the fixed gear -- but I get around this by parking 'em and using the Witty F-16 stands for my Dragon Vipers (Now, if only I could take the Witty pilots and put them in the dragon...)