There is no easy answer or path
Cadetships - only 200 hrs and in the pointy end of an airbus/boeing. Quite incredible when you think about it. But take the CTC/Easy/Flexicrew deal - you earn stuff all in your first 8 month contract and how many aren't getting renewed for their 2nd 8 month contract to make way for the latest batch of cadets off the production line? Quite a few.
But 500 hrs ish on the airbus in that time is not to be sniffed at and I imagine there is a very good chance that a lot or most will be given their 2nd 8 month contract next spring/summer?
Modular - I think in the main, modular for the time being unfortunately is out on its feet if the airlines is your goal. There isn't much recruitment at the moment and when an airline recruits they tend to be via cadetships of some description. If you were to draw up a list of airlines that recruit freshly minted cpl/ir modular students, it would be a very short one.
That will change given time to a degree, but as we are in the worst recession since the 30s or something, its hardly surprising.
Any sort of job for a fresh modular student are few and far between, but a first job with an airline, they are extremely few and far between.
Straight into an airbus with a cadetship is pretty special, but earning very little in the first 8 months with a good chance of not getting a renewal over the winter months is obviously not great. But the clue is in the title. It wouldn't be called 'Flex' otherwise, would it!
So there is no easy answer and neither path is easy. Hardly surprising given the state of the economy. 'You pays your money, you takes your choice' I believe is the saying. Perhaps a wise man would keep their money in their pocket for the time being!?