Great that there are now 3 of us in quite the same situation
. I agree with flyinglondon, with two exceptions:
- quite a lot of my "solid capital base" has already gone into my aircraft
- in my opinion, going modular is the better route for someone in our position: you can do the ATPL theory alongside your daytime (and often nighttime) job and quit before the practical part, if necessary. Depending on your present contract, the amount of unconsumed holidays, the negotiations with your boss and so on, this should give you a window of 3 to 6 months in which you keep making money as before, but can focus entirely on flying. Perhaps you can even negotiate a "consulting" position with your present employer to extend the financial umbrella a bid further, bridging the gap to your first flying job as far as possible.
Going integrated, on the other hand, means that you live of your financial reserves and the pressure increases with each month. Quite risky in the present economical situation! I think this route is better suited to 18 to 20 year olds who are financed by their families ...