From my understanding, this is the "preferred" way of doing it (at least with the major airlines - GA still doesn't understand CAO100.66). That is finish all the exams up front and then go out to get some real hands on experience. I would have thought a dedication to completing the exams would have been preferred by industry. Employers don't have to release them for blocks of classroom time and consequently gain increase productivity.
Qantas in Queensland will ONLY recruit this way (and then only through a well known college). I expect the other major airlines are similar (or will be soon). Then again it was that their instigation that said college was formed.
The current mess of examinations (CAR31 and Part 147/CAO100.66) means I have passed done the "wrong" exams. Irrespective of both CASA and college views I should have done CAR31 exams (but @$100/each I don't have a spare 4K to do them.)