Gernie,
By doing the APP in the US you will sit the 14 exams (distance learning) via Bristol G.S. to my understanding. It's really not that hard to follow. I am still saving but I will get there eventually.
Good point about saving money on the FAA IR and putting it toward the JAA IR
... I might get out there a little sooner than I think.
There is no getting away from the 14 ATPL exams. Unless you do the US version or the Canadian version etc. You want a flying job in europe then you WILL have to sit the 14 exams
.
Good luck
Andrew