Agree that maybe DE would have been preferential a few years back when the demand for pilots was higher. However, in the current climate, with holds and reduced pilot intake etc. A three year stint at univesity may mean that by the time you come to apply for a place on IOT, which adds at least another year, the holds etc (may) have sorted themselves out!
And the pension won't come into play for you anyway Joe, becuase there is NO way that you will have applied, been accepted, passed and graduated Cranwell before the April 2005 cut-off! (Although I'm not sure if you need to have graduated to make the cut-off...anyone know??)