I got this game a long time ago on a promo CD along with some piece of PC hardware. Probably a video card.
I read later on the internet that it was a commercial flop because it was in development too long and when it came out, the state of art had moved on. If it had been released a few years earlier, it could have been a mass success.
The controls felt like it could be a console port, or maybe it was meant to be both on consoles and the PC from the start.
The game was a flying shooter. You piloted an aircraft and needed to take down enemies and complete missions. The aircraft had the ability to transform - you could have a fast craft that was less maneuverable (and had to keep moving, I think), or a slower more maneuverable vehicle. Perhaps it was "airplane mode" and "helicopter mode"? Though I think the engines were rocket-like in either case.
The setting was on Earth and in the not-too-far future. Maybe 100-200 years ahead. The main character was a guy that was... either a policeman or a mercenary, I don't remember. The world was not entirely dystopian, but there were large megacroporations and huge junkyards.
I remember one mission in particular where you had a bit of a downtime and had come to visit a few of your buddies. They had rigged up this giant cannon on a riverside and you played a game with them where they threw stuff in the air and you had to shoot it down. It started with benign empty boxes but then progressed to more fun stuff like a couch and exploding barrels; and I think you could also accidentally hit a passing boat. That was fun. :)
The tutorial level was supposed to be a big virtual reality simulation.
Unfortunately I seem to have lost the original CD and I don't remember what it was called anymore. Does this description ring a bell?