JR2, Wow, That's quite a difficult question on many levels. A very tough call. If I answer from the perspective of pc gaming's versions I would say dying in a Spit is preferable. When I realize I am not getting out in time I generally take in some sightseeing on the way down and await my fate.
To answer the question from a real life perspective well, that is clearly a more difficult proposition. I should probably sleep on it before answering because I may feel differently a day or so out but I will give you my present thoughts.
The circumstances would play a prime role in answering. If for instances one is to buy the farm as you described the pilots fate than yes I would say the bullet through the head would be the choice. However, if the tables are turned somewhat to consider a fall to earth in a fighter plane without fire in the cockpit but no chance of escape vs. charging an enemy position and being gut shot with a heavy calibur weapon I may have to ask for the one way trip in the airplane. the fear and horror of being fatally wounded on the battlefield is more frightful to me than is a short ride to oblivion in a dead aircraft.
Of course you know there is no good answer, no more than there is a good way to die. As America's best general said, "The goal is not to die for your country. The goal is to make the other poor dumb ******* die for his country".