I use FSrecorder 2.16 alpha. Sadly it doesn't work for P3D (at least not the formation tools). It's a simple, but very powerful program that lets you make very nice formations. Plus it's free, so that's always nice!
This picture I used last year as a screenshotcomp entry:

I also made a small tutorial a few years back on how to make formations with FSrecorder right here:
http://www.myflightdirector.com/forum/v ... tion#p3440The only thing I didn't mention in this post is that you have to record a flight first. To do so, click on "record" in the FSrecorder dropdown menu. Go and make a flight and when you're done you click on "stop recording" in the same dropdown menu. Save it and follow the steps I posted.
It does has it's flaws though. I.e fandiscs don't show up all the time, particularly PMDG aircraft seem to have this issue, and you can see it in the the screenshot above. The PMDG ANZ 777 doesn't have fans, but the PMDG 747 does.
Sometimes gears stay extended, to counter this you just need to disable the gears inside the "advanced menu. The same goes for fluttering control surfaces or doors. You can all disable them if you have to.
I hope this works for you guys!
You can download it here.
http://www.fs-recorder.net/