Bluenose - the old chestnut of a FJ ejectee coming first may still be technically true but is almost statistically irrelevant against the rest of the gamut of SAR jobs. In the old days of Lightnings, Phantoms et al we had a significant number to deal with every year - now it is more like one a year (fortunately).
Post 2012 the ARCC will still be coordinating SAR assets and they will still be the ones tasking you to inland jobs so their assessment of priority will still be extant.
I'm not sure that the 'same standard' will be achieved immediately post 2012 because the 4 MCA flights will have to jump through all the hoops of NVG training and practise - if the CAA actually get round to legislating for it.
The taxpayer will ultimately fund UKSAR but they do that already - the main difference is that some of that tax will go straight to profit and shareholders dividends, how can that be good value for money?