IR
The system in the UK does indeed need a re-think. It should'nt be modelled on the fixed wing, it should stand alone.
In my opinion the process should be something like the following:
Sit ATPL(H) or CPL(H) exams. They should be valid for 3 years to gain your CPL(H) licence then you have a further period of time, say 3 years in order to get your IR(H).
This then gives people time to save some more money for the course but also, which I think is the most important reason for allowing more time, is for pilots to gain valuble experience within the industry i.e build more time, progress onto single turbine then onto twin turbine. The main way of doing this is to go the instuctor route.