Main gear will be 5D3 plus 300mm 2.8 IS and 1.4x TC
However - do I also take: 24-105mm for static stuff (B-52!!) and wider field of view flying shots or 17-40mm for static aircraft and 70-200mm f4 IS
Next question: to ensure razor sharp shots of the flying displays am I better shooting at, say, f8 and let the 5d3 take care of the rest or shoot close to wide open to maintain high shutter speed and rely on the focus tracking of the 5D3 to keep up with fast jets?
I am heading to an Air Show here in NJ this weekend (weather permitting). I am taking the 300 f2.8 IS and will have the 1.4xII with me (not sure if I will need it though). The other lenses in my bag will be my 24 f1.4 and 135 f2 (I have no zoom lenses).
Based on past experiences I do not think you will need your 17-40 with the 5DIII. The 24-105 will get you plenty wide enough and also get you near enough to whatever is on the ground. The 70-200 is also not needed, you can always use the 300 for tight detail on the ground if you like.
The 300 alone will get you close enough to most of the air action; adding the 1.4x will allow you to get tighter on the smaller aircraft and skydivers, but tracking will become a bit more difficult.
As for aperture, on the ground, be as creative as you want, things are static. In the air, I think you will be better served by allowing the camera to decide for you, especially with the faster moving objects, the lighting and background conditions can change quickly. Being able to concentrate on the subject and allowing the camera to do the rest will increase the number of keepers.