I would agree that converting FAA ratings is not necessarily any cheaper but it is an advantage to hold both JAA and FAA ratings due to the amount of N registered stuff based in the UK/Europe. However consider the following.
Study and take the JAA exams prior to the FAA flight training in the States, hence no delay between finishing FAA ratings and conversion in Europe.
Other option get on a J1 visa program gain FAA CPL/ME IR CFI, while working as an FAA instructor in the US you can study for the JAA ATPL thoery and the JAA exams can even be taken in the US. At the end of the year alot of hours in the log book plus JAA theory completed, return to Europe for CPL and IR conversion.
Last edited by portsharbourflyer; 9th May 2008 at 17:20.