Ah, I was once a starry eyed wannabe (still a wannabe, just minus the stars) and was debating the cost/chance of employment between Int and Mod, I chose MOD, earn while you learn being the reason. I was an early supporter of the WWW theory and yet still I thought that I'd beat the slump and come up trumps and be sat in the 75 taking off from LBIA. Then XL went bump and being close friends with many of the unfortunates forced me to have a strong sniff of the morning brew.
I am 32 this year and will more than likely be closer to 35 before things are anywhere near being good for pilot recruitment, I'll never be able to earn as a pilot what I earn as an IT engineer and so I find myself asking wether its worth the leap at all. As of the end of last year I put everything on hold and it remains so.
Anyway, thread creep.
In my oppinion its all about what your after. Right now it makes little difference to your prospects of employment either way so you have to take other factors in to consideration. Money is no object to some, budgets are the defining factor to others, some people lack the motivation to self structure their training or lack the discipline to distance learn, Some may like the idea of hour building while travelling, some may want/need to remain close to home for work/family.
There are many champions of both approaches but the reality is that you have to take a long look at yourself, take all factors in to consideration (discipline, motivation, budget, circumstances) and make the decision as only YOU can. And if your not able to then perhaps it was never meant to be in the first place as even me at lowly PPL can tell you that decision making is perhaps one of the greatest qualities you'll need as a pilot.
Ho Hum.
P.s Cheers WWW and all the others that warned us of the storm on the horizon, shame your not as up on volcanology, could've made a mint at the bookies.