Rainbow Air - Guaranteed Training, too good to be true?

I've been looking around for helicopter and possibly combined with
fixed-wing training. I came across Rainbow Air which seems to have a
very unique program but sounds a little bit too good to be believable.
However it seems as though the operation has a good reputation in the
industry.

http://www.rainbowair.com/academy_ctp.htm

They are asking $60k, up front, for 13 licenses, including 450 rotary
hours + 350 fixed-wing. 100 of the rotary hours they claim will be
turbine hours, with a pilot who flies for TV reporting who is selling
his working hours to pilots who want to gain PIC time. Also, fixed
wing hours as co-pilot in an air ambulance...Program also includes an
"internship" which I believe means you instruct (for free) while
staying a student for insurance reasons.

So, the red flags are obvious. Guarantees, surprisingly enticing
extras, payment in advance. However, you are instructing for free,
cost seems to be about $10k over theoretical minimums for ratings.

Can anybody comment on whether they think such a deal is feasible?
What about the reputation of Rainbow Air? What about my reluctance to
pay any school (good rep or not) in advance without some kind of
insurance (since flight schools have been known to shut down without
refunding tuition).