I'll try to answer your questions as honestly as I can. First, I agree $10K is a lot, perhaps too much, but the market seems to bear it.
First, you will go through a VFR/IFR proficiency course to get used to the area, Comair procedures, and standards, etc.
The CFI program consists of 40 hrs ground school, 22 ground briefs you give to various CFI's (these vary between 1 and 4 hrs in length), 18 flight lessons, in-house end of course. The quote is pretty realistic -- you will most likely team up with another student on the briefs, cutting the cost in half. The flight portion will probably run over budget a bit, depending on your performance. Right around $7000 I believe but check with the school.
CFI-I is basically a Part 61 course -- train to proficiency, 20 hrs ground school you pay for, 20 hrs free. Students finish it in anywhere between 12 and 40 flight hrs. It really varies depending on the rust. Quoted at $2500 or so.
Then you interview. No politics involved, they are simply looking for solid CFI's. They try to model it after an airline interview (written test, oral board interview). They will look at your training record, attitude, time it took to complete the courses, personality, etc. Basically, they try to filter out the students who had MAJOR difficulties, if you know what I mean.
As far as the MEI credit, you'd have to contact them for the exact amount. They pay the full MEI ($4500 or so) for those who go through the whole program, pro rate those who come in with ratings. I would guess you'd get about $2000 back.
I guess the major selling point and the reason we have students, even at these prices, is the airline interview. I don't want to sound like an admissions rep but where else are pilots being hired at 1000/100? At an excellent airline, no less.
I will warn you though -- many students who come from the outside are blown away by the pace and standards they are held to. Some do very well and others drop out very quickly. Depends on student aptitude, work ethic, and quality of previous training.
Hope this helps. Let me know if you have any more questions.