I'm currently at the Totnes School of Guitar Making, which has an international reputation (lots of american students come over here to do it), and from my own experience I would wholeheartedly recommend.
According to Organic Guitars promo literature, it's where the founder of that company first trained, and over half the students from the TSGM go on towork as luthiers. Which is a good indication of how good the course is.
I can only speak from my own experience, but having looked at the Bailey Guitars website, I'm struggling to see how you'd learn any substantial skills, let alone build a quality instrument in only 5 days. To put it into perspective, in that time on the course I'm doing, we'd finished instrument designs and technical drawings, joined and thicknessed the front timbers, and started work on the back timbers (for acoustics. The lads doing electric guitars were still working on joining their body timbers during the second week. But each to his own I guess.
Even a quality course will only be the first stage of training. I think the best way into the business if you are serious, would be to attend a course such as the TSGM to learn the basic skills and get an understanding of luthiery, and then beg or bribe your way into an established luthiers workshop to learn the trade from the ground up, even if you're only being paid peanuts. Having attended a course will (hopefully) make you a more attractive employee as you will have acquired skills already, and will be a demonstration of your initiative and enthusiasm.
Just for the record, I'm on my course for fun, not out of any career path (I'm a lawyer), but am thoroughly enjoying the experience, and am planning to continue making guitars in my own time once I've finished the course.
*Rahnooo*