M-reg Query
If one was able to get one's aircraft onto the M-reg, would it then be possible to exercise the full privileges of both one's JAA and FAA licenses when flying it in the UK and Europe? I'm led to believe that the IoM accept any ICAO compliant license.
Should the IMC disappear somewhere down the line, and an accessible EASA IR not appear, surely this could be an alternative to going N-reg? Anyone aware of any noteworthy pitfalls or issues with potentially going down this path?