conversion costs still pay off in the big picture
I do exactly the same thing, getting FAA CPL ME IR and will convert to a JAA license.
The thing is, flying over here in the states is so unbelieveably CHEAP, the expensive conversion costs arising in Europe are totally worth it in the end.
A recent example...: A Cessna 150 rents at 65 USD per hour here in the Midwest, which INCLUDES FUEL!!!
A twin (e.g. Piper Apache or Diamond Twin Star) is approx. 250 US Dollars an hr...also including fuel. That's like 170 pounds!
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In the end, say what you want to say, I pay about half the price going the FAA to JAA conversion route than doing it all JAA...! So the "expensive" conversion totally pays off.