Thanks for the responses guys.
Broadlands, I have always wanted to instruct as I enjoy dealing with people and mentoring/teaching. I would envisage instructing full time for a couple of years. That said, I'd be lying if I said I didn't harbour ambitions to fly heavier metal. If and when that opportunity came up I'd be keen to keep instruction going on the side, though.
It's for this reason I'm considering doing the cpl/fi ticket, starting work as an instructor and deferring the MEIR/MCC for the time being.