It does seem a bit much Wulf for a WW1 plane, but you can put all those switches to good use.
On my config - firstly I have the throttle reversed. Mainly because of my setup I have to stretch a bit more than I'd like, so it's easier for me that way !
Red 'pinky' button - icons on / off.
Middle finger (push) - Player List (stats). I could never get the rollerball to do anything !
Index finger 'HAt' (up) - Blip. (down) - Fire flare / pistol.
Thumb 'Hat' - Chat on / off. Map on / off. Options Menu.
Thumb switches - One is Gunners on / off.
'Eng Oper L & R' - Engine 1 & 2 on / off.
Grey slider - Radiator.
Flaps switch - Altitude throttle. (don't like it much for this though..)
Autopilot - Autopilot. A match !
Autopilot Switch - Auto Rad on / off. Auto Mix on / off.
There'll be a couple I forgot (bomb doors for one), but there's still some switches left to assign.
I have the WH stick also and those commands work in conjunction with my throttle unit, so the above is obviously incomplete and just to give you some ideas.
I'm not set up for gunning or bombing particularly so potentially I could have more things assigned.
It all helps keep you off the keyboard at least which is a good thing.
I'f I'd recommend one of my assignments it would be that index finger hat for Blipping .
The 'pinky' switch is infamously fragile btw, it's very slack and don't be surprised if it breaks.
Anyway have fun with it !