Ned,
To set the record straight, your hollier than thou NAC are also operating ZU registered A/c on the same principle i.e all their ZU registered PUMA's that are operating in the Sudan and Indonesia.
Also, you have Thunder City, Microlight Clubs, Sky Diving Clubs, Harvard Clubs etc....the list goes on and on all of which operate on a Part 94 (which is the use of ex Military A/c in civilian operations)
ZU or ZS reg A/c all can develope problems as you yourself admitted (the slight problem with the EC 120
)
Lastly, i have nothing against Gary and Kim from NAC, they are good people.