The process for me has been as follows:
Applied early Dec 07. Telephone interview Mid Jan 08. Phone interview was very pleasant, exactly as described earlier in this thread. Invited to Interview/Sim in Feb at Farnborough. Received an email from NTA recruiting to confirm the date and let you know exactly what to expect on the two half days. Looking forward to it - will give feedback here in due course, but to date, the whole experience has been very positive and friendly.
The type of flying done by NJE sounds great, as does the rostering. The overall package seems pretty good to me, and several of my mates and colleagues are really enjoying working for the company - fleet or aircraft type seems to make little difference. To me, it looks like a good bet, but that is only my opinion.