Not sure whether a couple of posts here were aimed at my previous post or not, but for the record, thought I should put some of my comments straight.
Personally, I doubt there will be much in it between a nice shiny new fATPL graduate and an MPL graduate in terms of capability. Capability, IMHO, is built up through operating your aircraft over a period of time and in different conditions. I have long stated I am dubious of the benefit of 100 hours in a PA28 in a desert environment, to the safe operation of a 747 in winter conditions. I rather suspect that the person who qualified with 200 hours and has spent the last 2000 on a (737/320) will be infinitely more prepared to deal with an emergency on that type, than someone who has 2000 hours as an FI and has just moved onto the type.
That said, there is a lot of merit in the argument put forward by WingoWango about development of capacity.
My only point in stating the MPL could (should they choose) progress their own PPL style flying on the side is that some people (NOT me) believe the MPL to be a lesser qualification BECAUSE of that lack of SEP/MEP flying. If a potential applicant to the MPL scheme was concerned that they may be disadvantaged by this, then it's fairly easy to address.
Personally, if I were starting again now, I would have a few reservations about the MPL, but wouldn't hesitate to go for this scheme. FlyBe are a good, strong, stable company who I don't see going anywhere anytime soon. Once you get past 1500 hours, it's an ATPL anyway....so irrelevant.