derek - it certainly is one of the ways to go (and I am a great pro-ponent of it).
However- if you think you are going to do the conversion course in the minimum 15 hours (or anywhere near it) you have to be EXTREMELY careful as to where to do the FAA course beforehand.
Rightly, or wrongly, just passing the FAA ride and holding "the ticket" will NOT, in any way, shape, or form, prepare you for the JAA instrumentr rating skill test. Nothing to do with standards - just a different set of rules, different way of life - different procedures.
I've observed on courses where guys have been SPECIFICALLY TAUGHT the drills and procedures required by the European authorities - lots of simulator time, done with European R/T, European routes in the database - everything.
It still took them an avergae of 20 hours on return from the USA.
I say again - nothing to do with standards - just a different philosophy.
I still think it's a good idea - but be very selective in where you go to do this....and remember, only 40% of I/R test candidates gain a full pass at their 1st attempt.