The problem I find with fighter attack craft is that getting them to outrange and outgun a properly AMM-defended fleet can be extremely expensive. While its true that I haven't tried running a dual empire game, I have tried both strategies and once you include the cost of the carrier (minus hangars) and the fighters, as well as the stupidly high fuel requirements, fighters become logistically infeasible unless you "cheat" by using tiny ASMs. (size 1 or 2)
The main reason being that a fleet that is 33% armed with AMM tubes/magazines can completely defeat an equal tech & tonnage box launcher salvo of size 4s. That's a box launcher salvo from mainline ships, not from fighters (which have less due to the fact that the carrier isn't launching). Fighters don't have the luxury of AMM defences and the return fire will get some of them (especially since they CAN see you with huge sensors)
Once cloaking tech comes online, fighters get nerfed massively as they can't cloak and suddenly ships become the same size as fighters (not to mention the serious problems fighters have in packing a firecontrol that can target other fighters at missile range). But cloaking is not something you normally count on as its a bit... expensive.
Here's an example fleet I often have around year 15-20:
All ships - 25% engine tonnage
Command ship - 12000 tons, flag bridge, AMM tubes, "Scout" sensor (res 100, size 50), jumpdrive, doubles as fleet tanker
---- Recently, I have been dividing it into two 6000 ton ships one containing the Scout sensor and flag bridge, the other the jumpdrive and fuel
Sensor ship - 6000 tons, "Missile" or "Fighter" sensor (size 50, res 1 or res 5), excess tonnage goes to armour, defenceless
Combat ship - 6000 tons, 5 AMM tubes, 5x 33% reduction size 4 ASM tubes, magazine space divided equally to offense and defence. size 9 AMM firecontrols (~10 mkm range), size 7 ASM firecontrols (I try to keep 33% extra range over my ASMs but you know how the budget is like)
Close combat ship - 6000 tons, 5s reload dual-role laser turrets, max size firecontrol
That's it. Add ECM and ECCM to taste. Standard fleet composition involves 10 missile ships to 1 sensor ship (20 missile ships is considered a "standard" fleet as it has both antimissile and anti-ship sensors, although I clearly build those much before I get 20 ships), close combat ships are tacked on as necessary. Specialized 6000 ton jumpships can be divided among the close combat ships if a JP assault is required.
Other specialized classes like a size 50 EM sensor can be added as necessary.
The main point I emphasize with this composition is that all the ships are small, and that all the ships are specialized. Small ships require only small multi-slip yards and so 20 ships is a piece of cake. Often I find that this composition outbuilds high tonnage carriers and often has better training as refitting 6kton ships to new engines is feasible especially if you can have half your slips refitting and half new construction... not so much for 20kton monsters and fighters can't refit. I don't often get feasible cloaking but that makes them look like fighters...
Yes, it does mean that I end up spending alot of RP on sensors, but I update only once every two levels or so and EM tech is at +1 over active strength.