Unfortunatly Kengineer, whenever FAA vs JAA gets mentioned it usually degenerates into a willy waving contest! It's a funny thing really but this arrogant attitude only seems to prevail in the UK, I've never witnessed it anywhere else in Europe or further afield.
I would never dream of coming on here and telling somebody that the licence they worked hard to earn is inferior, what breath taking arrogance. If any of you can prove that the FAA system is unsafe for operating worldwide then let's either see the evidence or finally put this one to bed.
I wonder if Doctors or Lawyers behave the same way, critisising each others qualifications or which university they studied at etc...
To answer the question, yes it is possible to find work in the UK using a professional FAA certificate, not easy but still possible.
It would still be worthwhile you checking the medical standards with the CAA again as I'm pretty sure things are changing for the better.
Good luck.