Whether there is sufficient cash in the aviation trust fund to pay for FAA operations depends on the political agenda of the person you are talking to. Less than 100% of FAA funding comes from the trust fund, the rest from the general US tax bucket, the figure can be changed by the politicians depending on their agenda of the day. However you look at it, the FAA doesn't get a penny of the tax paid on AVGAS sold in the UK, so having a go at the FAA for failing to fulfil their international obligations seems a bit rich to me.
I'd take out all the stuff about not being able to get the owners address (which is strange as the database is available from the FAA, probably for free, and is all over the Internet) and the stuff telling the FAA what to do. It's a losing argument IMO, and plays into what the dft want to do and makes them appear quite reasonable. Concentrate on the massive cost increase to UK taxpayers. I'd also work on getting the IMC recognised by other JAA countries. I don't know too much about it, but it appears to me that if, for instance, a UK permit aircraft (non ICAO?) can be accepted by France, there must be a mechanism to accept a non ICAO pilots licence too. I also take it back that the UK CAA are the problem, it's the JAA/EASA or whatever they call themselves now.