Thought I'd add my thoughts. I went through the college between March 98 and March 99.
First of all it's great fun, but that also depends on your fellow students as well as the instructors and the environment. I found that on the whole the Instructors work hard to give you the help that's required. Of course, as in any training situation, some work harder and give more help than others. Some had a better (or perhaps I should say better for me) training technique than others. I don't know how many ADC/APR instructors there were at the time, but I'd say there was only one from whom I gained absolutely nothing (and it may not be the one who immediately comes to mind, for my contemporaries!). I had a nose around when I came down for my OJTI course in March, sat in with a few sim runs. It's a shame that one of the College instructors who's visited LHR for Operational Refresher Training actually fell asleep while sitting next to me, so much for finding out how the 'real world' do it. Though maybe that says more about my controlling technique than it does about him?
Honey Monster, I agree with you about the rewards of being an instructor, and that really appeals to me, but something that I'd be afraid of is losing capacity if I was at CATC for the long term. I can feel I'm rusty on bandboxed GMC after two cycles' leave!
Gonzo.