Did it as you describe, though I had more aircraft time and less sim time (a good idea IMHO but depends on your bedget of course).
If you have an IR before the CPL, you have only 15 hours to do to get the CPL, though the IR is then 55 hours not 50. When I did it (summer 2004, modular), I would have saved about £1000 due to the reduced hours on the CPL. I chose to spend the savings on a twin CPL because I like flying twins and I had just spent some hardcore time in them on the IR.
Lastly, if you do a multi CPL, there is no PFL on test, though there is some asymm (which is nothing to worry about cos you've done loads on IR!). HAven't seen official stats but a lot of folks find the PFL to be their downfall on test and this is one way to avoid finding out if it's your weakpoint
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[edited to say that I think having about 15 more twin hours will make little if any difference to employability as a wannabe]