I was going to follow your first option but have ended up doing the second option, ie. getting the ME and IR together in the UK, although
afaik they can't be combined, you just have to do an extra 6 hours VFR flying alongside your IR training. The reason I didn't do my ME at NAC was due to a lack of an instructor, lack of an examiner, and the fact that the PA44 that they use was in far from ideal condition.
The advantage of the way I've ended up doing my training is that all my ME time is on the same aircraft following the same checklists and procedures. The obvious disadvantage is the huge cost saving which could be made by obtaining the MECR in the US.
PW