Been doing some research and here is what I found. May be this info can help figure out what the B-17 is doing there. This first set of info came off of littlefriends.co.uk and has the pilot listed as a Lt. Col instead of a captain. As you can see there is no listing of a P-38, only P-47's and P-51's. There isnt much info on Lt. James Hurley (if that is the same one) only that he flew a P-51.
Serial# plane Sqd Pilot Markings comments
42-8439 P-47D 328 PE-T Halton Lt.Col. William T Slender, Tender and Tall Bugs Bunny on left Cowl
42-106717 P-51B 328 PE-T Halton Lt.Col. William T Slender, Tender and Tall Lost 5 June 44 - Lt. William W Furr POW
44-13996 P-51D 328 PE-T Halton Lt.Col. William T Slender, Tender and Tall Lost 23 Sept 44 - Maj. Jack D Blanchard - Evaded
44-13557 P-51D 487 HO-T Halton Lt.Col. William T Slender, Tender and Tall (L&R)
44-14327 P-51D 487 HO-T Halton Lt.Col. William T Slender, Tender and Tall
44-15111 P-51D 328 PE-D Hurley Lt. James
In the first video by F/O J.C Hurley , the B-17 is pretty much beat to hell and back and in the end the right gear has collapsed. In the second on by Capt Halton, the plane is in much better condition so the videos must be reversed in order of time. Now either they were straffing at about the same time, or Capt Halton found the plane first, ran out of ammo, and called apon F/O J.C Hurley to finish the B-17 off.
If anyone can please add to this please do. Hopefully this can get the ball rolling, and we can figure out the fate of the B-17 and why it is there.