Irish Stu,
I think your plan is sound; by doing that you keep your options open, minimise your costs and when you come to do your IR you'll have more experience, more hours and be that much more current when those airline jobs come thick and fast (I wish!). Besides, I think instructing can be fun even if the Ferrrari will have to wait a while... Good luck with your plan and stay safe.
Cheers, Electric.