Pilatus,
A re-engined IL-76 with advanced western avionics has a certain attraction. There are even plans beyond the PS-90's - using CFM-56's as on 737's, etc. However, look at Ireland's airlift requirements again and I suspect the IL-76 is overkill. More cargo capability than a C-130J-30, without the ability to practically move numbers troops over long distances found in an airliner.
The Irish airlift soluton lies in the Nordic+ EU battlegroup realtionship with Finland, Sweden and Norway. That's what ultimately sells the 737QC, with which Ireland has the ability to move troops and cargo, though not outsized cargo such as vehicles. Therefore, consider an Irish 737 as part of the larger Nordic+ matrix along with Finnish C-295's, Norwegian and Swedish C-130's, and: a. access to NATO SALIS AN-124's as required in conjunction with N+ partners Norway, Sweden, Finalnd and, b. access to C-17 lift as required when Sweden, Finland and Norway join the NATO Strategic Airlift Component (SAC) as expected in 2007, with capability in service from 2008.
Under this scenario, the IAC's 737 serves as a primary N+ troop lifter in return for routine C-130 and C-295 missions and access to AN-124's and C-17's for major deployments.
I would go even further and replace the B200 with a second-hand CN-235 upgraded to 235-300 standard just before the IAC 235 MPA's go through their upgrade to -300 with FITS. There are used 235's on the market and this would give the IAC intra-Europe airlift capability and a Ranger Wing support capability along with a 235 trainer. As is, multi-engine students already go through a Flight Safety B200 course for m/e certification. Continue that, then bring them home to continue their training on the 235.