It would seem that the consensus is swinging towards the LCC being crewed by Impulse pilots.
I too think this is the most likely scenario, howeever, as I have said previously (or did I think), it will be a composite crewing arrangement.
I can understand perfectly why the Impulse guys are trying like hell to get the flying, they are not fighting for terms and conditions, they are fighting for job security, something those at Qantas (and we at Ansett used to) take for granted.
AIPA have the ability to resolve this issue in a satisfactory manner, get the wages right and keep the Impulse pilots involved whilst retaining the flying within mainline.
The only other option is for QF pilots to flex industrial muscle, they have it, it would work and now is perhaps the best time, but ultimately I believe this is highly unlikely. Sadly, AIPA and its members have been indoctrinated into negotiation rather than confrontation.