In general, anybody who has acted out of fear, having read some "proposal" in this business, has always "lost money"
One should always wait till as late as possible.
These proposals are often red-hot political and the FCL proposal on ICAO license acceptance post-2012 is the hottest of the red hot stuff currently on offer. It is so hard hitting (it would wipe out the majority of European business jet crews) that many people at the top of the aviation/political scene simply refuse to believe it will ever come about - in anything like the present form.
Historically, licenses have been grandfathered into one thing or another, to avoid widespread protests, but the EU political procedure is is always to hit the punters maximally hard with a really cutting proposal and then "they will be grateful " when it gets watered down a bit (Yes Minister anybody?) so any concessions will not appear until very late.
I have this "issue" with my FAA CPL/IR which according to EASA will become worthless, but I am damned if I am going to drop everything and swat up the JAA exams right this minute. There are a few thousand others in the same situation and most of them have far more powerful phone numbers in their little books than I have.