It was very successful when released. Gable, Loy, Tracy, Barrymore & Fleming are all at their best. Even supporting players in minor roles (Gloria Holden, Louise Jean Heydt & Marjorie Main, in particular) shine. Scenes play with a freshness and spontaneity all too uncommon for the period. Yet it hasn't been available on home video in any format in years. I'm stuck with a disc burned from a DVR recording of a TCM broadcast.
And I agree with your assessment of Loy. Her chemistry with Gable here is every bit the equal of that she had with Powell. From the light glibness of the THIN MAN films to the melodramatics of THE RAINS CAME, she could handle it all, and in TEST PILOT, she gets to run the gamut in one film.
Favorite moments:
Her initial encounter with Gable, after his emergency landing, when he complains that he had the record right in his hand, "Just like that wrench," which he then pitches to the ground, and her response: "Now, you haven't even got the wrench."
Her breakdown on the phone when Barrymore tells her "He's all through flying."
Depressing, ain't it? But the giant-brained marketing folks decree that there's a greater demand for the digitally remastered, 28-year, 5 months and one-week Special Anniversary edition of "The Revenge Of the Kung-fu Porky Nerds, Part IV" director's cut.
Admittedly, a classic of the genre, but, how many copies does one need?
Just in case somebody's still interested in seeing this movie: It's on Youtube with the title "TP 1938 Part 2/12" (The first part has another link which can be seen in Part 2). I enjoyed this movie very much there and I think the quality is quite good :)