Interesting topic. Thought i'd add my own insights. although perhaps going a little of the thread. So my apologies if it is.
It is similar to what i posted before 'is a degree and advantage'
Surely from the point of view of operator/manufacture or whomever else, an engineering pilot would be of more benefit that just a pilot (engineer) alone, to reinforce the point made by Genghis the Engineer, a pilot who is also and engineer (not the type that gets given the 'engineer' title that fixes washing machines, in UK terms at least - sorry pet gripe perhaps the reason i no longer live in the UK - i am an Aero Engineer) must be better positioned in terms of safety, more understanding of the mechanics and better able to report back to maintenance any problems and speaks the language of the technicians/mechanics and designers to perfect the design?..if anything an engineer should at least be in a better position to pass the exams..isn't that a better propsect for a operator/employer....
I agree on Rich Lee's point, about i just read a watch i don't need to know how it works, the same can be said for many things, i don't have a clue about this PC i'm using, but if it breaks or were to potentially break, or understanding what might break, is it particularly life threatening. However i think that a PC or watch is no where near as complex as a helicopter? However i do check the tyres and breaks on my bicycle..well at least occasionally. It must be a matter of perspective, yet again....