At the end of the day, if it was you up against someone with no education and 500hrs on type...they'd go for that guy with on type experience. Not sure if it stands any weight at all because everyone has to go through selection. It might help you get to selection and would provide some 'blurb' for you to talk about in the interview.
At the end of the day, it does no harm and is great for a backup. But, it can delay your training for upto 4 years...and costs.
Best of luck with whatever you decide.