Thanks again for your responses guys..

I started with an arc as suggested by albacore, its starting to take shape & its looking ALOT better. I'm adding some extra mesh to get more control over the flag (no shading like your tutorial yet though) - Its much better than in my previous post but I still need to play around alot more with it to get it as I want it but just wanted to let you know how I'm getting on..

Perhaps once I finally get something I'm happy with I will post the result