The going bush approach might be good, but the biggest difference is (un)certainty... with a cadetship you have a pretty bright light at the end of the tunnel, whereas in the bush the light is very faint, and very far away.
It's expensive, but considering you'll land the job 4-5 odd years sooner, its an investment that pays off.
At the end of the day, it's each to their own!
Lancer