P-F-T - not!
Don't do it, especially in this kind of program. I like Puddlejumper's description of P-F-T at his company. The time logged may be attractive, but is it legal? Possibly. Possibly not. I'd tend to think not, especially because the P-F-T "SIC" isn't being allowed to take off and land the airplane - a basic requirement of being a legal SIC. Do you call that real flying? I like his "puppet" description.
For a moment, let us assume the time is legal. You attend an interview and the pilot board sees time that is incongruous with your level of experience. If any one of the pilots is anti-P-F-T, I'd go to Vegas and place a $1 meg bet that you'll be blackballed. Why make a similar bet with your P-F-T "tuition"? Search the rest of the board about P-F-T. I submit that opinions expressed therein are a representative cross-section, pro and con, of P-F-T sentiment among pilots.
One other thing. How do you know for sure that you won't be conned out of your P-F-T "tuition"? How do you know that the P-F-T company won't take your deposit, train you, deem you untrainable and wash you out, and not refund your deposit? Aside from how P-F-T hurts pilots overall, as I have opined prolifically elsewhere, that notion stinks to high heaven, at least to me. Not making takeoffs or landings falls under this "scam" heading, too.
I realize that I am vehement in my opposition to P-F-T. I do not intend to start or incite another P-F-T discussion. But this was a solicitation for advice that merited an $0.02 response.
Good luck with any decision you may make.