Yep. It's good to know there are others in the same position.
Modular all the way for me, and I'm viewing everything up to CPL as good experience that will enhance my private flying for the future, even if I don't take flying forwrad as a career. Certainly the hour building I'm doing at the moment is enjoyable and, though expensive, it's not money I feel that I'm p*ssing up the wall (although my GF thinks differently
).
I'm going to get the CPL under my belt, and take it from there. I may hesitate to launch straight into an MEIR with prospects as they are at the moment, but things may be better in a couple of years when I'll still 'only' be early 30s.
As you say Phil a good option might be a half way house - I've always fancied instructing (the job, not the derisory pay) and would definitely consider a 'sabbatical' from work to instruct for a few months as a way of building hours and making contacts.