Hopefully the airline industry will pick up by 2011! Good luck.
I went through a similar program but had no jet training. I secured a job flying 727's right out of school. They key is networking. The companies that are looking to hire you will either see you have the minium flight time they require or you don't. To the resumes that get past that I think its really a crap shoot as to who they pick. Chief pilots probably get a thousand resumes for each open position. But if one of his pilots delivers a resume personally, its not garauntee you a job, but you will at least get an interview.
I worked as a CFI and lineman at the local airport and happened to meet the chief pilot of the company I ended up flying with. I never even interviewed for the job, but was told to just show up for training.
If I did not get that 727 job, I was planning on working for one of the many commuter airlines that will give you a job after you pay for your training. Low pay, boring routes, but you will quickly get that multi-engine flying time. Of course everyone under the sun is doing the same thing so remember... network. Don't piss anyone off because the people that you work with a the low pay airlines will get hired somewhere else. You can use them to get your resume bumped up the chain.
Of course things may change by 2011. If the economy booms, airlines expand, hiring explodes.