For those of you who want 172 to wait a few years before he makes comparisons, I'll cover his six. I left the Academy as an instructor over two years ago.
I did my ratings part 61at my local FBO and then went to the Comair Academy to finish my CFI ratings. They then hired me as an instructor. I will say the program works. It is not for everyone, true statement; it is expensive, true statement; it is a pain in the a**, true statement but the program does work.
My biggest complaint about the program is that everything you do there is held over your head in regards to getting hired at the Academy/ Airline. Don't be late for lessons, you won't get hired. You don't want to pick up the extra student, you won't get hired. You don't follow the company line? The Director of Training won't give you the schopols recommendation (which is required for the interview).
I believe that many, but not all, of the cost overruns are the students fault. I can't tell you how many lesson's had to be repeated because the student did not show up prepared or showed up hung over.
It use to amaze me how many students and instructors would try to buck the system. It seemed that they had a better way or had better knowledge on what the airlines wanted and wanted to create their own way. More often than not these were the people that were let go at some point of the process. I sincerely believe that is why the airlines like military pilots. It's not that they are exceptional pilots, some are don't get me wrong, but they simply do what they are asked or told to do. To put it another way they can follow instructions.
To all you CAA people out there, keep the faith and a positive attitude. That is all the Airline wants. If you don't make the whole process, just remember that noone can take away the experience and ratings that you have gained no matter how much money you paid for them. You will find a future.