Timebuilder,
As a 135 operator, we are required to do evaluations of our training contractors on a regular basis. On the basis of the last evaluation we did on Simcom/Pan Am, we pulled them off our Operations Specifications. Your boss is looking at the paper cost, not the real cost. We found several issues with Simcom. Poor training materials, irratic scheduling, sims that always broke, sims that were overly sensitive, instructors that talk in front of you in Spanish, problems getting or viewing records, lack of communication and so on and so on. We never sent F/O's to Simcom, so I can't tell you what they will do differently. However, at FSI they usually give F/O's the same training as Captains, just different seats. You will have to do a circling approach and a flaps up landing. You will also have to do a low vis takeoff and landing. That's about all I can think of right off the top of my head.