Tinstaafl,
It's so rare to see something you say that just sounds wrong that I wish I had some references to hand to be able to check this. But:
The catch is that the ATPL exams only remain current for a limited time AFTER you gain a CPL licence + IR
This is simply not true.
After completing the exams, you have 3 years to gain a CPL and IR. Once you've got the CPL/IR, the exams will remain valid for 7 years
from the date of your last IR renewal - in other words, as long as you keep your IR current, the exams remain valid indefinitely.
Woody - do the ATPL exams. They are not much bigger than the CPL exams, there is far more choice of schools offering the course, and once you've got those exams you've then got 3 years to decide whether you want to get an IR or not.
On the other hand, if you decided to do the CPL exams now, but then changed your mind and wanted to get an IR and then an ATPL at a later date, you'd have to repeat a lot of the theory work.
Good luck,
FFF
------------