IMHO
Not sure what exactly is involved in the CPL stuff, however you are going to have to do the full set of 14 eventually - do it now and get it out the way! Unless you want to instruct and will never need a CPL/IR.
15-20 hrs a week should see you get the exams done distance learning in around 5-6 months if you work hard.
I went to Bristol so can only comment on them - although I did masses of research before I chose them, and was in a position to go either D/L or full time. I don't know what you mean by 'geared towards the airlines', I found them to be exceptionally geared towards getting you through the course and couldn't recommend them enough.
SK