ProPwannabe - you should google it for a full explanation, but basically the MPL is a multi-crew specific qualification that trains you to work in a multi-crew cockpit with one airline's SOPs. You therefore cannot simply pitch up to a school and pay for a MPL course, you have to do it in conjunction with a sponsoring airline. It is not a license in its own right but when you complete the course you acquire an MPL(A) which entitles you to fly one particular type for the airline training you. The MPL(A) then turns into a full ATPL when you gain 1500 hours. At that point you would have the same license as someone who acquired an ATPL through the traditional route. Up until that point you don't even have PPL privileges, and can only fly one type of aircraft for one airline.
The downside is even though the MPL requires less flight training than the traditional PPL-CPL-MEIR/MCC route, it doesn't cost any less
. Plus the fact that, until the point you are acquire a full ATPL, you can only work at the airline training you. I think there's still quite a bit of uncertainty about what qualification you would end up with if the airline training you went bust half way through the training.