TT / Jig Peter,
I don't doubt that when it gets flying A400M can be made to be a decent - indeed, potentially world-beating (
)- airlifter that by bigger than the -130J has a niche that makes it ideal for supporting fielded forces with medium weight capabilities over the three decades from 2013/14. It also looks more elegant than a -130J, which is clearly vital.
HOWEVER, the damn thing is at least three years late at a time we desperately need all of the airlift we can get, and the "fixed-price" contract appears to be anything but. If the rumours of a reduction to 19 aircraft for the same cash are accurate, we are accepting a unit cost increase of >30% (in addition to the aforementioned delays).
<<Rant mode: ON>>
WILL SOMEONE PLEASE NAIL AIRBUS'S FEET TO THE FLOOR AND ENFORCE THE BL**DY CONTRACT THAT AIRBUS FREELY ENTERED INTO?!?! 
<<Rant mode: STANDBY>>
It's not as if EADS / Airbus can't afford it... they can - and unlike the RAF / MoD's shameful and craven approach to BAES over Nimrod MRA4, it's more than time for industry to pay for it's mistakes - like they would for their airline customers.
S41