Well, it's an option that I have been considering. The situation in the UK is weird. You do still need to have the proper instructor training and qualifications but as I understand it, you can instruct without a Class 1 medical if you do so unremunerated.
Ascend: Oz may be different but then I'd have no difficulty getting an Australian Class 1 anyway so for me the problem wouldn't arise.
I love flying and I also love teaching, so it would make sense from that point of view, if not from an economic one. Having been lucky and fortunate enough to have been flying helicopters for ten years, it would be really nice to give something back. Plus, of course, one of the best ways to continue to learn and improve your own skills at doing something is to teach it.
Two reasons that would make me reluctant to do so - firstly, would there be insurance implications, and secondly I wouldn't want to take work away from other instructors like Whirly who are working hard to make a living out of it.
Still looking for options though - I've got a couple of ideas that I'm working on at the moment, so I too would be interested in experiences from anyone in a similar situation.
What's your own position, G_STRING ?