Found this gem on another forum:

Understanding Airpower: Bonfire of the Fallacies by Colin S. Gray

A great balanced paper on the capabilities and limitations of airpower.

This study rests upon two vital assumptions, both of them anathema to post-modern minds. First, it believes that historical truth can be found, or at least approached. Second, it believes in the utility of ambitious theory. The discussion here flatly rejects the proposition that “history” simply comprises competing “fables” told by historians with interests and attitudes.

Similarly, it dismisses almost out-of-hand the belief that one theory is worth about as much as any other, which is not very much. This analysis seeks to find plausibly verifiable truth and, as a consequence, to identify error, the “fallacies” in the secondary title. To understand airpower, most especially American airpower, is a task imbued with high significance for national and international security. But, this task is harassed and frequently frustrated by both unsound history and incompetent theorizing. The problem is that those who debate airpower typically seek the history that they can use to advantage, not the history that strives honestly to be true. As for the theory of airpower, it never did take off safely; it continues to fly in contested skies or to taxi indecisively on the runway. No single short study can aspire to correct for 90 years of poor history and shoddy theory, but it can at least make a start.

The hunter who seeks to find and slay fallacies about airpower finds himself in a target-rich environment. Paradoxically and ironically, airpower’s most forceful advocates, from the time of Billy Mitchell (1920s) to the present, also have served as its worst enemies. The prime loser has been US national security.
Read it all, some sacred cows get slain, both for groundpounders and airpower advocates.