And if flight made him spot-on, and he had it, I'd like him more, even if it bumped up his point cost!

As it is, there's very little that stands out with this character as created, other than his low point cost.

And your hopes are, sadly, dashed.

Uhh... How so?

Some other characters like Shining Knight and Firebrand would sure have been welcome, but at least we're getting Mr. Terrific and Green Lantern.

Exactly. Furthermore, according to the spoiler thread:

I wouldn't be surprised if we see one or two more, like hopefully Shining Knight, Firebrand and Commander Steel, in the next set.

I was thinking more of the All-Star Squadron's core membership; the original Robotman, Liberty Belle, Commander Steel, Firebrand II, and Tarantula, along with Johnny Quick. The Atom was frequently active with the Squadron, but Sargon and Mr. Teriffic, almost never.