I've evaded this thread for a little while but would like to offer my tuppenth-worth.
Navaleye makes good sense in transferring the RAF SH to the AAC - this was done by the Aussies in the mid-80s and seems to work well. Such a move would also reduce any lingering tri-service jobs balance questions at JHC, potentially leading to further savings. In the medium term, there's no reason why AAC operated helicopters wouldn't also be crewed by NCOs - as the existing AAC assets are, with further savings.
Personally, I think that CVF will be cancelled in the next 12 months. With CVF gone, there is much less rationale for keeping the existing CVS fleet in the carrier role - though I can see the point of keeping one on as a spare LPH to alternate with Ocean. If this happens then the future of the Harrier force has to be called into question - as it won't be required on CVS and it has (with credit) finished in Afghanistan.
With CVF deleted, then there is no reason to purchase JSF anytime soon, and it could be realistically left until the end of next the decade - in order to replace Tornado by 2025. Moreover, with cancelled CVF, we can decide against Dave-B and plump for either Dave-A or Dave-C; given the greater range, I'd prefer Dave-C - but there are many better qualified to determine this than me.
All of this is doubtless painful and unpopular; but in my view it is only this approach of eliminating whole elements of capability that will deliver the savings required to balance the budget. It needs to be accompanied by a slimming of the top-heavy brass, certainly - but that's a confidence check-sum as it will in and of itself never deliver enough savings.
It's going to be bloody chaps; and despite their arguments, an Afghan-centric campaign will make this especially hard on the RN.
S41