Ok,
boogie-nicey - it is alot harder to get a job with a 737 rating in the UK if you have low hours. The reason being is because there are alot of Ryanair guys trying to get to those B73 jobs with more hours then you, should you leave after line training or infact Ryanair terminate your contract. That is what i ment by you are more employable with Airbus as a low hours guy, however B757 ratings are pretty hot property at the moment should you want Boeing.
kuchemann carrots - Not a stupid question at all. This is the limbo position that everyone is in as a post line trainned cadet. Your not entitled to any sector pay as stated in the contract. There is a romour floating about however that you do get 1/2 sector pay after line check pass.
With regards to the time left on contract after line check pass......who knows. They are saying Brookfields or nothing, but yet wont terminate the contract if you dont take Brookfields, (so far). Things could change.