Since I started this thread in January 2010 and as its had over 104,300 views until now, I thought I would add where My flight training got me:
Since completing my modular cpl/ir in 2009, I sent out my cv and applications to all the airlines and charter companies I could find across the world. I heard back from 4 in total, had missed a telephone interview with a UK based lo cost airline and was not given another chance to arrange a telephone interview, two others airlines were based in Africa however I did not have the experience on the aircraft type and finally had an interview with a European airline.
I received a job offer and put myself in to greater debt by having to find extra finance for the type rating.
I have been flying for them for almost a year now and have met many guys from both integrated and the modular route along the way.
All I will tell you is that we have the same job and when I tell some of them how much my training cost, you could hear a pin drop in the room. My debts are a lot less and should be paid off within 2.5years.
Guys it's a no brainer, don't fool for the shiny brochures and kind words given to you at the integrated open days. Instead, ask them why it costs so much more than the modular route even when they send you to America to do part of the training (where it is meant to be a lot cheaper than in the UK). Their costs per student are much lower and should actually make the whole course a lot cheaper than modular.
Enjoy the flight training, go for the job but don't just spend your money or anyone else's on expensive training. There are some great modular schools out there offering a professional and personal service.