As a long-time IMC rating holder (who uses it often "in anger") and a more recent FAA IR holder, I get angry at some of the patronising twaddle spouted by folks who should know better. I'm not sniping at any in this place, but at the retired military and similar types who, without knowing me or my capabilities, proceed to tell me I'm a dangerous idiot for venturing into cloud with my useless IMC rating and/or my second-rate FAA IR. Yes, I've even had that in print from a very senior Air Vice something-or-other in one of the safety magazines.
As the wise above have said, it's all about training and currency, not the shape or colour of the bit of paper. To keep my FAA IR current, I have to do six instrument approaches, plus IFR route and holding every six months. If I'm out of that currency (which happens occasionally) then I invite an FI friend with a JAA IR to sit in the right seat while we go for lunch somewhere with the necessary approach aids.
The IMCR isn't a "get you home" rating. It's a valid, examined rating that allows a basic PPL to fly in IMC in Class D and below. Sadly, only in the UK at the moment, but maybe something will develop...
I've also been told that my IMCR is no use because the instructor and/or examiner was incompetent - this from people who've not met either of those fine gentlemen (and not flown with me). Their opinion is as valid as their knowledge of the facts.
There - I feel much better now!