What makes the F-35 such an attractive option is the ASEA Radar or the AN/APG 81 which basically gives the aviator long range situational awareness and is married to a DAS system which is in effect a helmet mounted Aperture system that allows the aviator rapid information on his surroundings in the battlespace. Now having said all that, the F-35 itself is more or less an average aircraft performance wise but am speaking only on opinion here in the performance envelope vs. a F-16IN. If you really want to know an interesting story look up the history of the F-16XL which was a delta wing aircraft that General Dynamics built that achieved "super cruise" long before the F-22.
like the F-16 Fighting Falcon base model, the F-16XL was designed as a very different aircraft. The F-16XL was a conversion model development designed to study the effects of laminar airflow at supersonic speeds along with research into the causes and effects of sonic booms. Two such models were conceived with S/N 75-0749 being the single-seat aircraft and S/N 75-0747 as the twin-seat version.
General Dynamics F-16XL - History, Specifications and Pictures - Military Aircraft
I am a stong advocate for giving the warfighter the best tools for the dollar. If you consider that the F-35 is an average aircraft with the exception of the SVTOL version for the UK and Marine Corps, and the fact that the F-16IN has the same features of the F-22 and the Radar of the F-35 with better performace and is 2/3rds the cost you begin to see why the DoD is often accused of spending money in an unwise manner.
I also said this story reminds me a lot of the F-111 and it's inttial thought process of "one size fits all" and how the Navys experience with that aircraft was a very bad one which led to the F-14. I thought I might post a link to that story as well. See if this sounds familier when it comes to the F-35 and it seems at least in my opinion that sometimes the DoD refuses to learn its lesson.
Variants
FB-111
EF-111A Raven
Specifications
F-111 Images
EF-111 Raven Images
Sources and Resources
The F-111 was a multipurpose tactical fighter bomber capable of supersonic speeds. The aircraft was one of the more controversial aircraft ever to fly, yet it achieved one of the safest operational records of any aircraft in USAF history and became a highly effective all-weather interdiction aircraft. As a result of a poorly thought-out development specification, both the Navy and Air Force had become committed, much against their will, to a civilian-inspired "Tactical Fighter Experimental" (TFX) program. This called for developing a single aircraft-the F-111-to fulfill a Navy fleet-defense interceptor requirement and an Air Force supersonic strike aircraft requirement. In retrospect, this was impossible to achieve, especially since planners placed priority upon the Air Force requirement, and then tried to tailor this heavy landplane to the constraints of carrier-based naval operations. The naval aircraft, the F-111B, was never placed in production. The Air Force aircraft, which was produced in a variety of models, including the F-111A, F-11D, F-11E, and F-11F, as well as an FB-111A strategic bomber version, had numerous problems, and only the F-111F actually fulfilled the original TFX design specification. This was less the fault of General Dynamics than of the civilian planners in the Pentagon whose "cost effective" inclinations ironically produced the major aeronautical fiasco of the 1960s-and a costly one at that.
Federation of American Scientists :: F-111
Now as for the F-22 itself , my contention is very simple when it comes to this aircraft, it is a PROVEN aircraft in terms of operation and what it can and cannot do. It is obvious that this aircraft is the BEST air superiority fighter aircraft in the world today. It has yet to prove itself in combat , but it's time will no dount be soon. If it even comes close to the aircraft that it was meant to replace the F-15 Eagle it will be WELL WORTH every dime spent on it. To state that Russia has achieved air superiority over the United States with the TA-50 is a big stretch , however it does show that nations like Russia and China fully intend to develop a 5th generation fighter to counter the F-22, so the argument that its a cold war relic are mute. Now having said all that, I have come to think that the F-22 having been built as a harmony platform along with the F-35 perhaps the F-35 or the F-16IN would be a good fit for the USAF , but I'm increasingly convinced that the F-15SE is a good cross over aircraft that fills the CAS roll along side the F-16IN very well when used with the F-22 and would save the nation billions upon billions of dollars as well as deliver to the warfighter airframes that pack a punch that will keep US Military Aviation at the front of air power. This is basically how I woud see it.
USAF
F-22 - Air Superiority
F-15SE- duel roll Air Superiority and CAS ( Close Air Support)
F-16IN - duel roll Close Air Support and Air Superiority
* the bottom 2 can replace existing F-15's , A-10's, and F-16's
USN
F-18 E/F Air Superiority
F-16IN CAS (Close Air Support)
EA-18 Electronic Warfare
* now you can of course replace the F-16IN with the F15SE but IMHO I think the F16 is a better fit for the mission, this accomplishes the same purpose as the F-35 as it has a common airframe between the services and allows them to taylor it to the mission at hand.
USMC
F-18 E/F Air Superiority
F-35B STVOL (Close Air Support)
* Basically the USMC is the only place where the F-35 is a real fit for the mission to relapce the AV-8B.