Type rating...logging time?

[CJCCapt]

... for which the pilot is rated or has privileges...A person with a SIC type is not rated nor has privileges to act as PIC because they don't have a full type rating. by full i mean they most likely didn't complete all required manuvers for the type rating...

When the regs were changed and the SIC type was added, the question as to whether an SIC type rating applied to 61.51(e) was asked. The FAA has stated it does. Part 61.55 Second in command qualifications uses the term "SIC Privileges Only" type rating in several places. 61.55 describes the requirements for this "privilege" and "rating". 61.51 does not specifically specify a "PIC" type rating (which would have been changed when the SIC type rating was added). As you pointed out it says "rated or has privileges". Part 1.1 definition of rating "means a statement that, as a part of a certificate, sets forth special conditions, privileges, or limitations." Again, no reference to "PIC".

The purpose for 61.51(e) is to allow a pilot to log a specific type of time to meet an advanced certificate and rating. When it comes to more complex aircraft that require specialized training the FAA wanted to make sure that some level of training occurs. They have determined that the SIC type rating specified in 61.55 meets that intent.

 

[NJA Capt]

For example, it is very common at Flight option, or NetJets for both pilots to be logging PIC time (heck, I am typed and a sole manipulator of controls, right?)

I can't speak for everyone at NJA, but I don't believe that is true. No one I know of uses your interpretation. Most of us are not "building hours." If we sign for it, we log PIC. The senior pilot is PIC. If I am a 10 year Capt flying as the junior PIC, I log it as SIC. The company provided reports list the senior Capt as the PIC, not both. Sole manipulator (PIC) time is of no use in the real world.

Yes, all pilots at NJA are typed in their respective aircraft.