It's certainly a good option if you are really wanting to budget and experience the US. I'd love to do some flying in the US at some point but personally, I would't consider doing more than hour building in the US and some multi engine time at most. I looked at doing the conversions route before and asked various line captains and even a TRI/E about it. I was basically told to stick with doing it in Europe under EASA. Apparently it is easy to tell in the sim if someone has learned IR in the USA due to certain traits. Not really sure what the errors might be but I took their word for it as I trust there opinions.
But then again, this may just be the case with certain trainees. Given that Rudestuff is an airline pilot who has been there and done it, I am sure doing a CBIR and everything works perfectly fine. There is obviously not just one correct way to do things. Personal preference really. I am gonna stick to doing my flying training in Europe if I can
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