Ejections seats have gotten better over the years, but ...
My father had a short-igniter F-86 flame out over a
very thick cloud layer in Europe, 1 Wing. He did a
deadstick instrument approach to an airport he'd
never landed at before. Timer was ticking because
hydraulic controls are battery powered without the
turbine. Perhaps wiser heads would have ejected.
Fast forward to CEPE at Cold Lake. F-104 had all
sorts of systems failures after takeoff. Dad wanted
to burn off some fuel before landing, but the people
on the ground said land it now or get out. So he
did a very fast, heavy approach and landing with
no BLC, etc. Touched down faster than the tires
and drag chute were rated for. Kept it on the runway,
no violent back-crushing ride and the airplane was
saved.
The experts here would have surely ejected under
similar circumstances, but I might remind you that
none other than . Yeager was badly injured
when he ejected out of an F-104.
simply bailing out at altitude, without using ejection seats
You could do that in the L39 - pop the canopy, and
manually separate the chute from the seat, and step
out over the side. But the tail would surely kill you.
Not a good choice, either, at least in that airframe.
Hell, even in the Pitts, Sean Tucker (who has climbed
out of at least 3 Pitts that I know of) claimed he was
hit in the head by the canopy bow after he popped it
before he climbed out.
Not without it's risks.