kohlrak: According to the manual, you can sacrifice XP and loot gain by setting the challenge level to 50% to get a similar effect. The higher the challenge level, the more the wind matters.
Pityesz: Yes. The challenge level works the same as the min/maxSpeed server option. At 50% challenge the minSpeed is 1, while at 200% challenge it is 0.35 if I remember right. This means, against the wind at 200% difficulty you lose 2/3 of your speed. With 50% difficulty the wind not affect your movement. Between the two the minSpeed scale linearly. Flying ships more or less completelly ignore this.
So, once you get a flier, grinding gets even easier than it already is. And if the XP bonus updates dynamically with the other variables, a nasty grinding cheat can form by taking advantage of them: just set challenge as high as the engine will take it, set the skill multipliers (other than movement speed) as low as possible for the faction (normally 80%, but can be set lower with commands, i assume), then use a flier to do quest runs. Possibly getting max capped XP for every quest.