SEIR
downwind24 - I would urge you to consider the SEIR - just getting this eases the post ATPL theory exam. time constraint and is cheaper to maintain.
Unless you have a guaranteed job in the marketplace I would spend that saved by taking the SEIR route in maintaining your IR. Cross the MEIR hurdle as and when. I would venture not less than two years away for low hour CPL IR holders.
Good luck - Bonus are a good crowd.