T-Bird,
CPL ME + IR is OK, though it'll probably end you up in the 732 or props. ATPL is not a requirement until you're ready for your 3rd set of bar on your shoulders. Most take ATPL after 3 - 4 years as F/O.
CPL without ME+IR will end you up in the props. Most of the applications I hear are CPL ME+IRs.
And yes, you need to get the license ratified/converted... A nice 2 week session in Curug I think...
PK-KAR