Lembrado,
True enough on the fact that jobs in Europe don't come easy, BUT, do they come easy anywhere - here? It's obvious that a little bit of luck, and more importantly - timing, play a crucial role in locking in a position in any profession. So, no I don't think that a European venture is a "walk in the park." (I hope so though).
Also, the instructing idea while completing the ATPL modules would most definitely work. In this matter, I could be killing two birds with one stone; However, seeing as that I am no heir to the Rockafeller throne, I think that my finances have decided for me. Not an option - its either Europe, or FI.
As for the cost of each, well, one should check out Toronto Island's rates (the real costs) for an FI course, because it sure doesn't come cheap at just over $9000 Cdn. (a/c rental, fuel surcharge, landing fees, instructors rate, location/distance of practice area, and let us not forget - our taxes = $$$)
JAA conversion: ATPL $3500 (groundschool + exams at NAC); CPL test 170 (can be done in less than 5hrs $2000); medical $1000 (UK Class 1); and finally - the IR (15 hrs must be done with 10 available in simulator - cost varies).
Now, it is without question that I am assuming all my conversion training would be completed in a minimum amount of time. And perhaps that on completion, costs may be slightly higher than that of an FI rating, but surely not by much. More importantly though, I will try cut my costs for the flight rentals at all times (ie. don't rent a twinstar if the PA44 is up for grabs etc.)
All in all budd - in the end - it's an adventure, and as you said, that whatever path is chosen - I should enjoy it. Very true. So why not leave to try something new, something that can be attainable? We live once, and quite honestly, I don't feel like kicking around T.O. listening to Daryl Dommer (ph) and those frickin traffic reports on the 401 anymore.