The big problem with this is that it isn't discussed at the right time. Two years ago when people were applying to CTC and other integrated FTOs would have been a great time to discuss the future (very difficult to do, granted) and present.
The near future seems a good time to start. Early 2009 on a two year course plus roughly 6 months of delays means you'll leave in around mid 2011...which I suspect (as do others) will be a darn sight prettier than the current situation.
Should you wait for mid 2009 and you'll finish the course at around the beginning of 2012...
Of course, this doesn't take into account the issue of finance with HSBC in the current situation.
Maybe it's just me that's missing something....