Slackbladder,
It can be done but (by all accounts), it is very, very hard work.
Try sending a PM to
The Nr Fairy. (He followed the route that you suggest and is on the cusp of changing from old job to new job).
He might even add to this thread, if you're lucky...
With regard to which route to take after initial CPL(H) training, the best advice comes from Camp Freddie:
"Option A, CPL(H) only, high risk, chance of employment poor or nil
Option B, CPL(H) + FI rating, higher cost, low risk, lower returns
Option C, CPL(H) + IR, higher cost, high risk, higher returns"
Best of luck,
B73