There's a slight potential for confusion here. I assume you're talking about the Midway-class carrier kits (i.e., the Midway, Franklin D. Roosevelt, and Coral Sea). Revell also has marketed, at various times, a kit labeled "Battle of Midway Carrier," that (supposedly) can be built to represent any of the three carriers that took part in the battle: the Enterprise, Yorktown, and Hornet.
The Midway-class carrier may have been the first plastic aircraft carrier kit. (I'm not sure of that; the old Lindberg Essex-class kit came out at about the same time. My source in all this is, as usual, going to be Dr. Thomas Graham's outstanding book, Remembering Revell Model Kits. According to Dr. Graham, the kit first appeared, with the name Frankline D. Roosevelt, in 1954. It's been reissued many times, bearing the names of all three class members at least twice. The most recent incarnation listed in Dr. Graham's book is 1975, but the kit may well have appeared since then; the book's coverage only goes through 1979. Dr. Graham gives the scale as 1/547.
Revell's first ship kit was the U.S.S. Missouri, dating from 1953. (That kit, remarkably, is still in the Revell Monogram catalog - despite the fact that by modern standards it's downright primitive and ludicrously inaccurate. It wasn't based on the plans of the real ship, which in 1953 were still classified.) That kit was a success. The same year Revell issued a kit that supposedly represented the submarine Nautilus - which hadn't been launched yet. (The Revell design was complete speculation, and missed the mark by a considerable distance.) The following year Revell issued a series of warships that sort of rounded out its embryonic warship fleet: a Fletcher-class destroyer, a Baltimore-class heavy cruiser, a PT boat, and the Franklin D. Roosevelt.
By 1954 standards the kit was amazing: a big model with lots of individual 5" gunhouses, an elevator that could be slid up and down, and - most fascinating of all - a deckload of aircraft: Skyraiders, Cougars (some with their wings folded), Corsairs, and a pair of Sea Knight helicopters. By the standards of 2006, it's just about the crudest aircraft carrier kit available (though the old Lindberg Essex-class one gives it some competition). Like several other Revell ship kits of the period, it's actually a sort-of-waterline model (though the purchasers weren't told that). Probably because the hull lines were classified at the time, the kit's hull has a flat bottom, sliced off a few feet below the normal waterline. But Revell provided a pair of trestle-like stands to mount it on. To modern, minimally-informed eyes the sight of that sliced-off hull resting on those trestles is pretty ridiculous, but in the fifties nobody seemed to notice.
I imagine it's accurate enough in its basic shapes to serve as a basis for a serious scale model, but not without a great deal of work. This class of carriers hasn't received the attention it deserves from the kit manufacturers. I believe one of the Japanese companies made a set of Midway-class ships (in a later configuration, with angled decks) on 1/800 scale a few years ago; my understanding is that they're considerably better than the Revell one, but hardly state-of-the-art. So far as I know, those are the only other plastic Midway-class kits.
Hope that helps a little - though I'm afraid it's not very inspiring.