The police Bikesafe initiative is brilliant.
I did mine around Derbyshire with a police inspector as the teacher, he could not have cared less about my black visor and me having no no baffle in the Yoshi exhaust. I learned loads from him and had a fantastic day out on some brilliant roads.
I have also been on other advanced driving/riding courses (I have done that on 4 wheels as well as two). in addition to which I am a qualified ADI, so I do know whereof I speak.
The IAM thing in theory should be good, the problem with that is that although many instructors will likely be OK, there are also lots of anal retentives (often riding BMW's or Pan's) that think they can ride better than they really can.
Some of the advice they give out as well is nothing short of dangerous. Whilst I may exceed the speed limit by varying amounts in varying places on most days - actively teaching and pushing a paying pupil to break speed limits on a regular basis is nothing short of reckless.
Try telling the camera partnership you were training on an IAM course when they send the speeding photo's and fine through and see if they let you off .........