No kudos from me. I don't think there is any advantage to using the IPE - in fact I think it makes things worse (except for a very small saving of BD space).
Your top diagram would usually have a case statement to handle the situation where the search element is not found in the array, which is something that would be difficult to incorporate in the IPE structure. If it was implied that the IPE would not update the array if the element was not found, then there may be problems if other code was included within the IPE - would that run or not? Either way it's not clear.
