The method of just doing the basics and nil cert IV is okay, except you still have to have fours years aircraft maintenance experiance before you can apply for a CASA license. It is a total scam that employers will not take on a apprentice with out a pre-voc course yet get all the cash as if they had employed them from day one of their apprenticeship.
The method of just doing basics is also not going to be in the new regulations (if CASA pulls their finger out) so if you are going to do it you have four years to do it from when casa launch their new regs.
I have not seen many engineers succeed using the basics only and nil cert IV way. Think about it, would you like it if the person that released the aircraft (you were to fly in) out of maintenance had only passed some bull**** exams and not done any serious training to get their ticket?
Australian aircraft maintenance training is ****.