Horatio,
I tend to agree with you on all that. Its not looking good but if "old" mate gets his arse into gear he might still be able to get a descent turbo prop job.
Personally having been there done if I had my time over I wouldn't do it again because as one poster pointed out: return on investment.
It all comes down to personal circumstance finance/ family ect. If all the personal circumstances are in your favour Izzy then that makes it alot easier. If on the other hand they are not that will make it near impossible and you can in some instances lose what you've got.