Hi John.

The answer to many of your problems can be found in these Forums.

1. Don't use the mouse wheel on buttons. Use the left and right mouse buttons.
2. Heading Select, LNAV and VNAV all work fine for me. Have you completed all the things in the CDU/FMS, including activating the route?
3. TCAS Failure is normal for when you are on the ground. After takeoff, it works fine. If it is failing after takeoff, then it means it isn't switched to TA or TA/RA.
4. I think the sounds for the 757 are fine, so I guess the realism of them is a matter of opinion.

The 757 is known to have problems IF the Demo was not completely uninstalled and all remnants of it have been deleted. Uninstall the 757, then remove all the traces of it, then reinstall it. See if that fixes your problems. If it doesn't you might need to do a complete uninstall/reinstall as per KB #685 and hopefully that will fix the problems you are having.

757 V5.0.....Who knows how long that will be? Since the announcement of the 757 v5.0, Captain Sim have released the 737 Captain (we knew this was coming) and the 777 Captain (this was a huge surprise as I was expecting the 757 v5.0 to come after the 737). The 777 Captain, is still getting worked on and we are patiently awaiting the 1.2 update. To top that off, just over a week ago, Captain Sim previewed, then released, the L-1011-1 Exterior, which looks like it will be getting a VC (going by the interior preview on the product page). So as you can see, the 757 v5.0 could be quite a ways off.