Dont know who you've been talking to but I think you,ll find they convert nothing without sitting lots of exams and handing over lots of dosh to them for the privilege.
As for the FAA IR how can it be inferior as the CAA allows US airlines to fly in and out of this country every day. Also you can fly an 'N' reg aircraft based in this country under IFR if you hold the rating.
What it boils down to at the end of the day is money. If you have an FAA IR they get none of it.