I was looking to start my PPL in Oct '08 and then start my ATPL GS & HB at the start of '09 with the aim completing my CPL & ME-IR by the start of summer '10, then deciding on applying to airlines/FI/bush flying/glider Tug job etc
Since the news of the airlines goes under I've decided to delay my PPL until April '09 and between now and then complete a few IT certifications that will enable me to get a higher paid job in contracting.
I'll take my time hour building and start my ATPL GS when I have a better idea of where the industry is going. One thing for sure is after completing my ATPL GS I'll look to complete my CPL and FI and give the expensive ME-IR a wide birth until I have 1,000+hrs and have a good chance with landing a job be it air taxi, biz jet or the heavy metal.
Future looks pretty bleak for a wannabe at the moment and I'm in no rush to become one.