i didn't personally make this move, but i have a friend who did an MA in philosophy and then did an MA in english. their experience was that they were particularly strong in regards to theory and critical thinking, but that applying theory to text was difficult because they hadn't had much practice. that said, they were pretty brilliant. benefits/drawbacks are -- i'm imagining -- about the same as a philosophy PhD. a big commitment paired with less-than-stellar job prospects in academia afterwards.
i think the real question is why do you feel drawn to a literature PhD after your time getting an MA in philosophy and theology?
