I believe one of the reasons that missiles and torpedoes do not work in this game is that this game represents combat at short-to-medium range. It is akin to dogfighting in the first thirty years of aerial warfare (1914 to 1944). PIlots got up close and personal to their opponents; under the right circumstances, a pilot could see into his opponent's cockpit. This changed with the advent of missiles and torpedoes which were used for medium-to-longe range combat. Pilots could now kill their enemies miles away.
As for bombs, the point about bombs is that the pilot wants distance between himself and the bomb detonation. I have read accounts of planes being buffeted by a bomb explosion, and, in some rare cases, being brought down by a bomb explosion.
I do not remember in the canon Star Wars an incident where missiles and torpedoes were fired at enemy fighters. Both, if I remember correctly, were used for the destruction of the DS and DS II reactors. (I have not seen the movies in a long time.) Again, from memory, the only use of bombs in the canon Star Wars was seen when the TIE bombers bombed an asteroid, in an effort of spooking the Millennium Falcon out of its hiding place.

