dma,
This topic has been debated many times on this board. Do a search for type rating and you'll get some interesting/informative info. I went to HPA in Aug, got the call in Nov for a Dec interview and got the "good news" call this past Monday. I'm very excited (a huge understatement, to the say the least!). And I'm very fortunate and vowed that if I ever did get a good news call that I would try to help as many folks as I could - since this board and the great folks on it have helped me immensely!
I was in your situation at the beginning of last summer and wondered which school to attend. HPA and K & S seemed to be the two to go to if you're hoping for SWA. Of course, having gone to HPA, I'm partial to them and concur with everyone above. They're professional and flexible. You're not buying a 73 ticket, you're buying excellent instruction. They do have a solid relationship with SWA as the HR folks come over on Fridays to answer questions.
Does going to HPA (or K & S) assure you an interview at SWA - no. I believe in the end, it's all about your competitive qualifications. Does going to one school over the other increase your chances of getting the call? That's the million dollar question. In reality it may just be checking the "yes" block on the app. For me, I learned that HPA's culture is very similar to SWA's. I liked the idea of spending two weeks with great folks with similar values as SWA. I'm sure K & S also has similar values and I've heard only absolute great things about them. Plenty of current SWA pilots have attended both schools.
As far as breaking up training - it's not difficult to do. It seems that ground training (first week) would be the one to break up, but I would really try to do all the sims at the same time (as stated above). Pretty steep learning curve. Hope that helps. Good luck!
jtb