I see your point now Pringle. People in similar situations to me will wait untill this new proposal is put into effect causing a potential shortage of FI's followed by a relatively large influx of them.
lfclfc: If the student wants to be a good pilot, surely they would do a fair bit of research into who would possibly be teaching them first and even go to meet them before hand with an arsenal of questions. I was very glad i did, however i do understand many people simply don't have options in this case.
Also i can't imagine i would want to instruct without holding a valid CPL and not having sucessfully passed CPL knowledge. For me, it all comes down to how much i value my life (& others) and the thought right now of me teaching my first student, scares the crap outta me.