Some interesting comments.
MJ, although I agree the requirements for getting the a FI(R) to a FI(A) are quite meaningless under JAA / EASA, for someone to get the no applied instrument removed still requires additional training and a test.
So in that element it means and an JAA / EASA FI(A) with the restriction lifted and a CAA QFI would both still have done an additional test since the initial AFI / FI(R) test.
Further very few schools would take some one would the no applied instruments restriction just recently lifted on as an IR instructor so most would still only recruit those with a reasonable number of hours teaching IMC.
So in that sense there is still little difference between the FI(A) coming from modular JAA route and the old CAA QFI. So to suggest any one is going straight into MEP / IR instructing doesn't hold any water.
I am also know that a certain modular school on the South Coast with an excellent reputation and well known for its standards has employed plenty of MEI instructors with only the minimum of multi hours, yet strangely does not seem to have compromised its standards (I have personally known four of these instructors). While having real world experience may certainly add value to an MEI/IRI instructors ability to teach, I really don't see that a school that is largely gearing its students to go straight to multi crew EFIS really has much call to make large amounts of air taxi experience as a pre-requisite for its instructors. Also just because someone has a lot of experience doesn't mean they can teach it.
The twist to this is when there were air taxi jobs going you would rarely get looked at unless you had 100 to 200 hours of multi time, the only way to get that was working as a multi engine instructor.