Before going down a very expensive route, take a look at the latest version of the CAA's charges for AOC operators. Essentially, unless you are thinking of more than 4 machines, it just isn't worth it. By 09 the CAA wil be asking for so much money that there will be no way that a small or restricted AOC can compete with the nigelh leasing world.
Now - this might change. Particularly in the light of the CAA Review being conducted by the DfT. And there does appear to be some sympathy at the CAA for the plight of small operators.
However, with the ending of cross-subsidy from larger AOC companies, the refusal of the CAA to go forward with a "per seat" tax on passengers and the stupidity of a Govt which demands that air regulation is not only self-funded but also gives a 6% return on capital employed........you guessed it.......there's more hope that Kerry Katona will keep her gob shut for a week.
Meanwhile, go to any major sporting event this year and watch the heli operations. See how many are not AOC-based - and log the number of non-line checked pilots working for cash on their days off from taxpayer-funded flying.
Then join the club.