ITP, I can't argue that some of our management are incompetent; there you are absolutely correct! Nevertheless, that doesn't alter the fact that a strike - should a vote go that way - is extremely unlikely to significantly improve the offer available to you, and is highly likely to damage the airline at a time when its finances just aren't that good.
As I've implied in posts above, patience is fundamental in securing a good result for your colleagues. Unite haven't had much time (and have squandered much of what time they've had) to build a plan to improve your pay and conditions, and a consensus for implementing it. Between the Company and the Union, the negotiations thus far have been pretty inept. Nevertheless, as Stan says, the deal you have on the table involves an uplift well above RPI right now (with backpay), and a further uplift of RPI for 2008. Yes, there are some strings attached, but negotiations always have to involve some compromises.
You now have the opportunity to take what's been offered, and then take stock and focus your efforts for the next round - which will begin fairly shortly, as this one's gone on so long. Or you can reject it for the uncertainty of a strike, with whatever effects that may have on your employment prospects. I have to say I don't feel those effects will be positive!