I've just finished my final set of ATPL(H) exams via the interim procedure. Yes, many of the subjects studied were irrelevant, but by taking a PPL(A) and two more exams I could have an ATPL(A) also.
I did my modular course via Bristol and were happy with both the training they provided and (more importantly) the way they prepare you for the exams.
I intent top become an FI, but felt that the extra effort to get the ATPL(H) may benefit me in the future should I choose to get an IR. Yes you only (currently) have 3 years to achieve the IR, but that's probably long enough to build a bank of hours via training, get some turbine time and decide what it is you 'really' want to do.
Many jobs look great from the outside, but until you're doing them day in day out you never know. I know my FI is beginning to get fed up of students trying to kill him!
While I was at Bristol GS about a month ago a little birdie told me that the CAA were dropping the interim procedure this July. Anyone starting a modular course after that will have to take the full helicopter course. I know Bristol don't want to be fixed wing only so I'd expect an ATPL(H) course announcement from them soon.