It wouldnt suprise me if the Polytech guys themselves dont know too much about it - The school looks after most of the course and I think you'll find its just tied in with the tech. for the additional papers (such as buisness or whatever) that go with the whole diploma.
I have a couple of friends who have started on the new course that began a few months ago and from what they have to say they seem very happy. I dont know the details of refunds and time spent on the sim etc, but Im led to believe that the multi/IFR flying is done as a two pilot crew - Not single pilot.
Of interest is that Ardmore flying school - If you havnt looked already - Run the same Diploma through Manukau Polytech - Same deal - Full student loans, All licences and ratings etc.
www.ardmore.co.nz (not sure if the diploma details are on the internet????
Youll prob. find the major difference between the two is that Flight2000 is computer based theory training.
Best to visit the two and judge for yourself I guess!
All the best anyway!