A few observations:

1) You're not talking about $8500 vs $7500. With the added hours you're
talking about $33500 vs $7500. As you said you're not likely to become
a commerical pilot, so why waste $25k (or be constrained by rules on
how to spend it if you're allocating it to going up)?

1) $7500 is quite a bit of money, but less than what it would cost to
do the same in AUS. I have a friend here at work that had his
commerical license. It cost him around AUD35000 about eight years ago
to get his PPL and CPL and then he couldn't get a job. He considers it
wasted (but I disagree with that and told him as much). However the
kicker I think is the minimum to get your PPL is in AUS is something
like AUD12-15k. I think your dollar is worth a little more though.

2) If it's what you want to do, and you have the cash to spare (ie no
family commitments etc. you'd have to neglect) go for it. Do expect it
to be hard work (but that doesn't mean it won't be fun).

3) I'd disagree with the other poster about putting the money towards a
plane. Even $33500 won't go far unless you're talking ultralight. But
what about putting $7500 towards a nice computer, projector, yoke and
pedals, extra monitors and build a home cockpit? Have you looked at the
traffic, scenery and weather addons you can buy or download for free?
That's another option certainly within reach of $7500. It's never going
to be as good as the real thing, but if you're just doing it for fun
you won't have to worry about weather, time of day or night, medicals,
motion sickness, currency of your license. Plus if you crash you don't
die or end up in hospital. Just another option.

4) Do you have to decide right away whether you're going for the
multi-passenger or commercial ticket? I'd put that decision off until
the absolute last minute and do as much as possible of the training and
exam that's common to both. Circumstances both medical and financial
change, and you don't want to be out a lot of money or obligated to do
200hrs unless you have to be.

Bottom line is real world flying's what you want to do go for it. Do it
safely and smartly, have fun, and lots of luck to you!