I had the same problem(s).
After I first installed the game the pointer would show but it wouldn't pull across the screen. I had to blindly click until I luckily clicked in the right spot.
The problem was that my default text and icons size (in windows control panel) was to 150%. When I put it back to 100% (default) the pointer worked fine until I was flying and then it was invisible.
I had to uncheck the pointer trail box (in windows control panel, too) and then the cursor seemed to work fine in game.
I have windows 7 64, too.