Well, the KNF will be able to participate, I don't see where not. Sure, the emeergency wing arrives after the bomber assault, but that's about the time the Exile fighters will arrive, so it will be even (6v6).
The transports not being able to participate sounds a bit harsh, to be honest. They will indeed be able to try to flee, roleplay and so on, they just won't take on the fighters, as there are evenly matched escorts. And the thing with the Gunboat being taken out - ye, but that's purely fluff. Doesn't change any of the outcome. If there isn't any one willing to do so, I can completely understand that.