I'm instructing part time, its great fun but I will probably only fly about 200-300 hours per year. Thankfully the 1500 hour rule has not yet made an apperance in Europe. I believe its a case of sitting tight for the next year or so until things start to improve (I'm still sending out the CV's).
Pre 2007 instructors with 500 hour TT plus were getting turboprop jobs in the UK, I'm not far off that now so I'm just waiting for the market to improve.
I love instructing but it will never pay the rent and put food on the table at PPL level. The only people I know who can afford to do it full time are twenty somethings who live at home with Mum and Dad rent free or people who have retired early and have a pension income.