Sounds like
a) if you're young enough and the time to command doesn't bother you
or
b) If you want to live near Gatwick and work short haul
its a no brainer.
Otherwise you have to be pretty desperate to leave the ME to consider this, given the pay cut, time to command and the bad rosters for the first 5 years at least.
Having said that there are plenty of people who do seem pretty desperate.