The proposal at present is for 240 hours of 'flight' training, 60 in SEP aeroplanes and 120 in 'Level A' synthetic training devices and 60 in a Level D device. The course would produce pilots type rated as F/O in one type of multi-pilot aeroplane and a minimum number of hours (yet to be decided) would have to be flown on that type before conversion to any other.
Whilst airlines are clearly for the proposal, any self-sponsored wannabee who embarked on this course would have to be terminally stupid as he/she would end up qualified only on one type of multi-pilot aeroplane and, if no jobs on that type were forthcoming, would not be able to cross-train to a different type and would have no other employment options as a pilot. It is not clear whether the 60 hours of SEP training would include a PPL - the stated intention is to concentrate on "upset training and inverted flight"!!
So, to answer Fancy Navigator's question, it is certainly not worth waiting for the MP licence.