As I am sure has been said elsewhere, the aircraft and pilots just represent the front end of the carrier strike capability. The idiocy of the SDSR decision, which the PM is about to compound in the FR/UK Defence deal (FT Today), is that we risk losing the capability to operate jets off carriers. All of the expertise on the current CVSs will have gone (we are getting rid of the CVSs), the aircrew will have gone (either PVRd, redundant or moved to other aircraft types, the command experience will have gone (as will the met, ATC, FC, deck handlers, planners etc, etc).
In my many years in the Service and beyond it has been the most astonishing Defence decision made - I just hope the CAS (I understand the current CAS made a promise to the PM) at the time can deliver because the RN will have lost the ability. I presume the RAF will provide all of the manpower, including ship's company?