IFollowRoads - I agree that the theory is the cheapest part of the IR, but as far as I am aware there are no schools that currently offer distance learning options for the JAA IR. There is a MINIMUM of 200 hours tuition for the IR, at best 5 weeks off work, and that's with a 40 hour week in the classroom. The flying training is 55 hours I believe.
Ian
This makes it very difficult for PPLs without commercial aspirations to find the time for an IR if they have the money. It is sad to say, but the realistic option for many is to do an FAA IR and to fly on the N reg.