James, if the CTC course gets you the JAA CPL/Multi/IR and frozen ATPL. You will also need an MCC. Then you can apply to airlines. Most other schools produce the same thing.
The Delta connection course will only give you FAA licences and ratings which are no use in Europe. You will need to convert to JAA when you finish there which includes doing all 14 ATPL exams. That means more expense. But it can still work out cheaper in the long run. There are schools in America where you can obtain CAA approved JAA licences. Perhaps they might be a better option.
But as the others pointed out, things are a bit slow at the moment on the recruitment front. Don't be in any hurry to make up your mind.