The Unsettling Evidence:
First off all, the below facts are not from the pages of Holy Shit UFOs Are Real Weekly or any other group of alien enthusiasts. This is from the Air Force's own investigation into the sighting.
So right off the bat we have the fact that there were two experienced pilots both reporting the same thing: that a weird-ass craft was flying alongside them, very closely. It wasn't some vague flashing light that zipped past. Both men claimed they got a good, long (10 to 15 seconds) look at it. If you think it's because both men had been dropping the same acid minutes earlier, know that one of the passengers in the plane (one of the few who were awake at the time) also saw it. Everyone involved described it as a rocket like ship, conical in shape with two decks lined with windows, which produced an almost blinding light from beneath the ship.
"The ship appeared to be Bugle-escent in nature."
The pilots got on the radio and, trying not to sound crazy, asked if there were any experimental craft in the area (there weren't, or at least none that flight control knew about).
OK, so maybe everybody on the plane got together and came up with a hoax so they'd get their name in the paper later. Well, when Air Force investigators started poking around, they found yet another witness on the ground (a guy named Walter Massey, who worked as a member of the ground crew at a nearby Air Force base) who claimed to have seen the same object, reporting it an hour before Chiles and Whitted.