<blockquote>I was wondering however whether there is any sense in registering for the Dec'12 CFA Level I sitting?</blockquote>
I think you'll find that if you complete all three levels of the CFA there will be some overlap in the content, but your CFA will cover a broader range of topics. Before you commit to doing both, I'd do some research on what the practical benefits of having both would be: do a lot of people in the roles you're looking at have both an MSc and a CFA? (check LinkedIn) Or, do the positions you'll be aiming for require just one or both?

<blockquote>quick update on my case: I decided not to wait another year for the masters so this Sep will start the MSc Finance at Strathclyde. I was wondering however whether there is any sense in registering for the Dec'12 CFA Level I sitting? Do you see any benefits to that? 'cause I see one big disadvantage in the amount of $1,500 exam fee :D Thanks</blockquote>
So, how are you liking the program? I'm curious because I'm considering doing the MSc at Strathclyde, but am also looking at the International Accounting and Finance MSc at Birmingham - tough decision!