i should point out that
all new route (1+3) and traditional (mphil/phd) students at exeter sit the same modules for the first 2 terms (the research training modules). the difference is that the new route students write a dissertation in the third term, whereas the mphil/phd students write a conversion paper and have a mini viva so that they can progress to the phd stage. so, in this respect, the routes are exactly the same. the differences are:
1. the new route students get an extra year (but can submit early)
2. the new route students write a dissertation (on research methodology)
3. the new route students are those that are entitled to apply for funding.