I agree with cornholio...that is the same way that I took EXCEPT, I obtained the CFII before my first instruction job. I knew a lot of CFI's that delayed the II for almost a year...It hurt them, but I got alll the Instrument students (gold in CFI terms). The CFII took me about 2 weeks, 6 hours of training which included an instrument proficiency check...It is a shame if you let that small amount of money get in the way of a full student load.
As far as the multi-commercial...the people who I have seen try to obtain this before the Comm SEL, take more time to get it and might spend more money. Any training in the multi before 250 hours (Commercial minimums for total time) is cheaper than after 250 hours...but remember it is easier to take training one step at a time rather than leap over a couple on the way up.
I did not go to any accelerated program to get my ratings but these are the times that it took me for my advanced ratings:
Commercial- 260TT
CFI- about 15 hours training
(2 weeks after CFI) CFII- 6 hours training
(1.5 years after CFI) Comm Multi- 8 hours training
(three weeks after Comm multi) MEI- 2 hours training (included in 15 hours of PIC)
There is more than one way to do this, and i believe that which ever route that you choose...If you study your @** off, you will save yourself more than the order in which you do this.
....REMEMBER... make your hours count!!! Even if an amount of Total Time or multi time gets you an interview...You still need to back it with you flying skills. Keep it standard and don't cut corners by double-dipping or by taking advantage of "grey areas" in the FAR's..they can come to haunt you in an interview.