@Bealzebub,
Brilliant argument and on the whole I agree, if all people want to achieve in life is to fly for an airline as quickly as possible and make a quick return then I would probably suggest Integrated route to them if they had the money. Furthermore, the older a candidate is I would recommend Integrated because they don't have as much time on their hands.
For me, firstly I had time on my hands being 21 at the moment. Secondly, the fun I had during my training (especially hour building) I wouldn't change for the world - something the integrated boys never experience (I'm sure there are some who have however but it is more regimented training). Thirdly, I always wanted more: In terms of flying, I always new that I wanted to Instruct for a good few years first because I love teaching. Therefore Integrated would have been of no benefit to me. (The Flight School I instruct at btw has just lost four instructors to BMI regional, all of whom were year above me on my degree on modular training and the Cabair integrated applicants I know with first time passes that arn't FI's gor rejected - goes to show). Finally, I have always wanted more than just flying as well: I would like to go into Management, maybe push for CEO in the future. This is why I came to Cranfield to do my MSc in ATM. If nothing else, it's nice to have a back up and not solely be qualified to fly.
Maybe you're right, not EVERYONE will make it! But, air travel is forecasted to double by 2020 (don't mention the F word, had a nightmare finishing my Forecasting module last week), and things are looking up. I'm most certainly in no rush.
In sum, I think that there are horses for courses. Both have pros and cons. Just be aware of what your getting into!