I have just graduated with a first class honours degree in a biological science. For the last few months I have been looking for a suitable studentship, but nothing of interest has really been available. I am beginning to accept the fact that I missed the October 2003 boat. One institution has offered me a technician post in anticipation of finding funding for a PhD later. Should I be mercenary take the money and hope that a PhD materialises or should I hold out for that elusive PERFECT studentship we're all looking for?

take the technician post
yo'll get the money and most of all you'll get experience
for your new application CV

Taking the technicians post will give you great experience and a bit of cash. You'll also have loads of time to keep applying for studentships. Although most projects start in October start dates can be flexible and many start at other times of the year, so you may not be a technician for long.

I'm in a similar position, I've been offered a technitions job but in terms of a PhD I'll have to look elsewhere as they're cohocabloc with PhD students at the mo. How easy is it to just quit the technicians post if I was offered a PhD elsewhere?

If the person offering you the job knows you'd rather be doing a PhD, they will not be surprised if you keep looking for one (they may even recommend you to a colleague). Almost certainly you will be on a months notice in your technicians post. Which means that you can start a PhD a month after being offered it. This will be plenty of time, nobody will expect you to start straight away. Taking the technicians post should enhance your chances of being offered a PhD, as you will have experience of working in a lab environment.