I have JAA and FAA licenses and am part way through the FAA IR. Not trying to play the system at all. Just exploring possibilities in regard to retaining IFR privileges in the UK if the IMC goes down the pan (without going N-reg).
If the worst should happen, the IMC goes and is not replaced by an accessible IR, and they try and kick N-reg's out of Europe, it would have been a nice alternative route for those of us who simply don't have weeks/months spare to study for a JAA IR. I see IoM aren't precluding light aircraft by rule, simply by resource (they'll do it for IoM residents, for example). Those of us who don't have the time to spend on completing JAA IR theory in any kind of reasonable timeframe are probably the exact same people who would pay a not inconsequential sum to get onto the register and therefore be able to exercise an FAA IR in the UK.