I was going to write a nice big post, but lost interest half way through so here's my condensed opinion:
1. I'm with Beazlebub on the integrated-to-airline route and modular to keep options open/flexibility
2.
And if choosing your integrated provider as Bealzebub says is your only "fast track" route in, then choose wisely. The connections are now so tight do you think that someone trained at Oxford has much chance at a CTC affiliated airline and vica versa? So it could be that you pay over inflated prices to actually limit your options!
By that argument though you are saying that by going modular you are limiting your options even further...but at least you get to spend a little less. (assuming you were wanting to have a shot with an airline)
3.
I dare say many of those most suited to the profession are now discouraged from airline flying for this very reason
No doubt true...but having said that it doesn't mean that those who weren't discouraged are in any way less suited to the profession.
4. Fable - from what I've heard, Ryan will stop the large recruitment in 2013 as I think thats when the last planes are due to be delivered. Not sure about Easy.
5. I agree with whats been mentioned about the actual "cost" of doing flight training. Its not all monetary but comes in many forms such as what it is you actually want out of it and what gives you the best chance to achieve that.
6. I'm sure I'm going to get slaughtered for saying this but I actually think now is a good time to do an integrated course (and modular of course). If you were to start now you would in theory get your CPL/IR by late 2012/early 2013, I feel the situation is going to be a lot better than it is now and I think most things will be recovering nicely by then.