KofK,
EK4457 is right on one count and wrong on another. With an MPL, you can't fly single pilot unless you obtain single pilot ratings. MPL's will have a type rating and a multi-pilot IR only. A PPL would be easy to get if you just want to take your mates up for a jolly. If you want an fATPL, you'll need more. A single engine CPL would be easy to get with about 10 hours instruction. An ME course is 6 hours. A single pilot IR would be the costly bit, though I would certainly ask the CAA to authorize a 15 hour IR conversion, but whether they would approve and whether you could pass the test in 15 hours, I can't guess. I doubt that you would be required to take an MCC course.
EK4457 is wrong when he says if you are made redundant before 1500 hours, you can't fly for another airline. Bollocks! Any airline flying under JAR 1 Ops can hire an MPL holder as a First Officer. There will be many that might not be willing to hire MPL holders but I think that is more to do with ignorance than an MPL holder being higher risk.
If a JAA MPL holder is made redundant, any other JAA airline can hire them. If the new employer operates their type, they only need a conversion course to learn the new SOPs. If they are hired for a different type, they need a new type rating. Please tell me how that is any different than what would be required of an fATPL or even an ATPL holder? It's no different.
The risk for the first MPL cadets then is the ignorance they will encounter from others if they need to seek a second job before they reach 1500 hours.