Which Zero was Caldwell speaking of? Regarding the A6M5:
"These differing technical characteristics determined the pattern of relative performance between the two machines, as shown by the tactical trials conducted by two experienced RAAF fighter pilots in flying trials conducted over three flying days[2]. Flight Lieutenant 'Bardie' Wawn DFC and Squadron Leader Les Jackson DFC flew against one another in both aircraft, and what they found was not encouraging.
They found that the Zero had a lower rated altitude than the Spitfire, 16 000 feet against 21 000 feet, which delivered the Spitfire a good speed advantage at height – it was 20 knots faster at 26 000 feet. However, as had already been noted by RAF Fighter Command in Europe, the Spitfire had relatively slow acceleration, and thus the Zero was able to stay behind the Spitfire within gun range while the Spitfire gradually accelerated away out of range. Even in a dive the Spitfire still accelerated too slowly to avoid the Zero's gunfire. Climbing away was also not an option, as the Spitfire's climb superiority was too slight (not to mention the slow acceleration problem once again)."
"The Zero developed its maximum speed of 291 knots at its rated altitude of 16 000 feet. The Spitfire produced 290 knots at 15 000 feet, confirming that below 20 000 feet the two types were more evenly matched in speed performance. Given the Zero's much superior acceleration, in practice this meant that the advantage tipped more heavily in favour of the Zero at these lower altitudes. In comparative tests at 17 000 feet, the Spitfire was again unable to safely draw away from the Zero. The unanimous conclusion of Wawn and Jackson was that 'the Spitfire is outclassed by the Hap at all heights up to 20,000 feet'."
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Spitfire vs Zero | Darwin Spitfires, the real battle for Australia - Spitfire fighter pilots height tactical advantage superior