When to start is tricky because what do you mean start? Jack in a job and enrol with OATS? Start distance learning the ATPL's? Go for a first trial lesson as the local airfield?
Its better to ask; when is a good time to become first qualified?
At the moment it certainly is not rosy to be applying for jobs. I know many who are and they are getting nowhere fast. And thats nowhere no matter whether they have just stepped out of OATS or have hundreds of multi hours and turbine hours.
A few months back I was starting to feel more optomistic about things picking up. However I think its now quite clear that we are going to see major military action in the Persian Gulf. For this reason alone I think it will be a bad time to become qualified for the next year at the very least.
I wouldn't want to be job hunting until Spring 2004 in an ideal world.
I would use the waiting time to study the ATPL syllabus to death whilst applying to the CTC academy for one of their airline sponsored places.
Good luck,
WWW