Yep. Unless you have a job at SWA waiting, it's nothing more than a good way to pi$$ away a few thousand dollars.
Waste of money. Won't help you a bit. Only thing that will help you right now is knowing the right people.
Given the sheer volume of apps for the very few spots available at SWA, NOT having the B737 type is the easiest way to tell SWA you're not serious about a job there yet. Without it, the people you know prolly can't even get you past the screening filters.
If SWA is at the top of your dream job list, go ahead and make yourself competitive via the type. It is worth the investment if you get the job. If SWA is not where you want to be, spend your time/money on something else. Like ammo.
I was very pleased with Higher Power--great people and great training. Or the previous suggestion of another company flying the 737. Three or four of my new hire classmates (2008) picked theirs up at a legacy while waiting for SWA to call.