Hit the space bar (jump) to climb vertically in the air, much like a Harrier jet. Once in the air, you can control your flying mount exactly the same way as a land mount, with the additional element of going up and down. While flying or swimming the 'X' key will make you move down.
The normal flying mounts increase your speed in land and air by 150%.
The Paladin can travel faster while using the Crusader Aura speed buff. The Death Knight can travel faster with the talent "On a Pale Horse." This is a 20% boost to land and flying mount speed.
You cannot remount if you get off your flying mount while in the air, because you are moving. You will have to land (hopefully at a non-fatal speed) before you can get on your mount again.
Splat! Along those lines, if you get off your mount while too high, hopefully you have a device or spell that will slow you down, such as Slow Fall, Levitate, or an engineering device.
For aerial daredevils, you can try to dismount and attack other players in-air - again, hopefully you have some way of slowing your fall after your combat maneuver.
You can dismount from ANY height without suffering any damage or death as long as you are over deep water. If the water is too shallow, you will suffer damage or die, depending on how high you are when you dismount. It's fun to sky dive.
Most forms of crowd control abilities, such as Polymorph, Fear, and even the Discombobulator Ray (awww) do not work against players on flying mounts.
Be careful flying your mount around enemy towns - they usually have an elite aerial guard patrol, which can literally kill you before you hit the ground.
If you log out while on a flying mount, you'll still be on it when you come back.
There are certain areas you cannot go while flying. You may run up into an invisible wall and a message will indicate that you can travel no further.
If you happen to die in too remote of an area while flying, you may have to use a Spirit Healer to recover your body. Ouch! Some "secret" places in Outland or Northrend are only reachable by flying mount.
There are all sorts of interesting things to discover with your flying mount. For example, many floating objects including tiny islands are scattered around Outland. Have fun exploring!
Damage and health leech effects always affect flying players even if they are immune to the rest of the spell's effects while in flight. Northrend: Be careful when leaving your character flying while away from the keyboard. You can sometimes fly off the map into areas where you get fatigue and die. You might not be able to recover your body without visiting a Spirit Healer which results in lost gold for repairs.
Cold Weather Flying - To fly in Northrend you need to be level 77. You also need to purchase Cold Weather Flying for 1,000 gold. It can be bought from Hira Snowdawn at Krasus' Landing in Dalaran City.
Tome of Cold Weather Flying: Patch 3.2: New heirloom item. Players who have reached level 80 can purchase this book for 1,000 gold from Hira Snowdawn, the Cold Weather Flying Trainer in Dalaran. Similar to other heirloom items, this item can be mailed to other characters of the same realm, account and faction. The book is consumed when read training the character in Cold Weather Flying. Requires level 68.

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