Sljmaster,
My plan when I joined the RAF was very similar to yours.
I applied to join pre-University, and was fortunate enough to be offered a pilot place. I also had a couple of university offers on the table, but reasoned that the offer to go to Uni would still be there if pilot training didn't work out. There was no guarantee that the RAF would be recruiting pilots in any meaningful numbers in 2-3 years time when I would have applied again.
With hindsight, I'm glad that I made the choice that I did. In the early 90s, the pilot training pipeline had similar problems to today, and recruiting numbers would have been very small at the time that I would have graduated.
In an ideal world, it would be nice to be able to plan to finish University and join the RAF straight after. Unfortunately, the numbers game just doesn't work out like that. If someone is committed to an RAF pilot career, they need to be ready to apply when the slots are available.
As to the original question; when will the RAF recruit pilots again? No-one can know for sure. However, its important to understand that the Service would like to have a steady flow through of people onto the Squadrons. Not recruiting for a branch in any given year leaves a "black hole" in the manning plot for many years to come. This causes huge problems further down the line when, for example, there are no pilots eligible for Advanced Staff College in 15 years time. With the demographic issues of promotion, exit points etc, the profiling of age is quite important, and the RAF will want to open some form of recruiting as soon as possible. This may be very limited, but I personally would be very surprised if there was not some recruiting within 12 months.
Although it may sound counter-intuitive, the trainee pilot redundancies are part of this strategy. Without doing this, the training pipeline would been clogged up with too many people that were recruited before the taps were switched off. This causes excess holds, requires refresher training and brings its own problems. But more significantly, this "backlog generation" would have prevented new entrants joining the Service for even longer. Projected forward, this would have given an RAF with lots of pilots who joined in 2008/9, then no-one behind them until recruiting re-opened in maybe 2013/14/15? When the backlog generation reaches their exit points, the RAF's pilot manning is once again thrown out of balance. Of course, this is no consolation to the many young people whose career aspirations were cruelly dashed, but it is the reality of trying to maintain long-term manning balance in a rapidly changing air force.
So, a long-winded answer perhaps, but I think the short message is that limited pilot recruiting will start sooner than might be expected.
The redundancies of pilots within the training pipeline is actually a manifestation of that intent.