Cesspit, I instruct part-time; weekends, bank holidays etc., even some evenings on a regular basis. I would love to do it full-time but given the salaries out there I just can't afford to. My weekday job doesn't pay huge amounts but it sure beats what I would get instructing, by a quite an amount too. I wouldn't even mind taking some degree of wage cut but if I went on to instructor wages I would have to sell my house, sell my car and find myself a cardboard box to sleep in and a railway bridge to put it under!
I can instruct for PPL, IMC, Night and Multi but still this seems not to attract anything like a decent wage (and it's cost me a potful to be able to do this!). The truth of the matter is, even if an employer thinks that you are worth your weight in gold as an instructor, the whole thing in this country is so expensive, the margins so tight, that they cannot afford to pay any more than the bare minimum.
As for the so called instructor shortage that will put up wages for us all, well, I've not seen any great evidence of it. Sure, the self-improver route has gone, but look at some of the Pprune forums: lots of talk about people getting their instructor ticket because they've finished at Cabair or OATS or some place else but can't get onto an airline for love nor money.
Obviously, Cesspit, you'll have to make up your own mind up about things. I hope I haven't struck too much of a despondant note for you, this is just the way I see the situation, certainly at the moment.
Remember though, if you can hack the poor wages, it is brilliant fun and very rewarding.
Regards and best of luck, GT.