The thing I find most interesting is the way that the CAA/Brits slagged off the American system of licencing for years. Then along came JAA. All of a sudden the JAA PPL looks, er, identical to the FAA syllabus. Ditto with the CPL. The IR is similar.
I hold FAA and CAA ATP licences. I have flown loads in both countries. I would say the FAA testing is far more practical and I think that having a thorough test of your knowledge of the aircraft you are taking the test in is a very good thing.
Never known an aircraft inside out as well as when doing FAA tests.
But yes, the CAA/JAA theory is obviously far more than the FAA. But then how much do we really use? From my ATPLs and Techs I can say virtually none. Air Law was of some use. Met practical, moving fronts on a piece of paper, well yeah, like I do that all the time...NOT!
So I reckon both systems produce a qualified pilot. There are people going through Oxford who shouldn't be there as they will never make the grade and become commercial pilots. Same goes for some students in the US.
The flying is not that different, you fly the aircraft, you talk to someone on the radio, you fly down an ILS. It rains and is cloudy in American too.