Depends where you view it from, nose on is not a flattering angle <g>
The 'hand it to the RN' argument is fair, the only thing I'd have against that (assuming there's not a significant amount of Nimrod expertise remaining when P8 finally turned up) is a worry that the RN would treat it as a poor relation and not do the job/fund it properly. (A bit like the RAF ended up doing, I suppose!)
Dave