Ok, firstly, speak to the CAA, find out exactly what they say. If you must, go and see them before writing off the JAR ATPL (at this point in time).
It is worth spending the money.
Let's assume they say the worst, not good enough for
initial Class 1 ATPL. Ask if it's good enough for a renewal or would they consider reviewing your case IF you had eg 1,000 hours flying experience with no problems. If they say yes, now you can formulate a plan.
If they agree to consider you with X amount of hours, tootle off to the States and work over there for a year or so. It'll be good for you any way and you'll get some good flying experience.
Unfortunately, if the CAA say no to all of the above, see if you can fly for fun and go find a well paid job and laugh at us having to work Xmas day and in really ugly weather.
Good luck.