Your pay won't increase because you are already have your AEMCA, but I would think that it would increase your chances of getting in. The PCP training is not cheap (as you would already know), and a member that is already qualified as a PCP is going to save the CF some money on initial training. A few years ago there was talk about paying signing bonuses to recruits in certain trades that are already have civillian equivalent training, but I have never heard of a medic that got a signing bonus.
That being said, there is still the requirement for you to receive a PLA (prior learning assessment) exemption from the PCP phase of the QL3. It is my understanding that not all PCP programs in Ontario will make a candidate eligible for a PLA, and I believe this is based on whether or not the program has CMA accreditation. If you do get offered a contract but not a PLA exemption, don't worry about that too much. The PCP training is in Chilliwack BC and as long as you don't get too wrapped up in the drama that usually comes with being on course it can be a lot of fun. Besides, your prior PCP training will be an excellent foundation and you should excel on the PCP phase of QL3.
If you do get a PLA exemption you would still have to do the first part of the reg force QL3, a clinical phase which I believe these days is approximately 16 weeks. Then you would have to do the final field phase which is something like 2-3 weeks long.
Good luck with it!