No. I'd go full time modular, choose the school that was best for me, in the area that suited me best and offered the most cost-effective training for my finances. The people who get on this scheme will most likely go straight onto a jet, however IMHO the scheme is overpriced in the current employment situation.
If things continue the way they are going, airline entry requirements will continue to fall. By the time these guys graduate to their 757 they may well be rubbing shoulders with new entry low hour guys who paid half of what they did to get their blue book, but it's horses for courses and the best of luck to all who apply.