For me, it's simple.
Anyone can 'convert' their licence. Whether it's Canadian to FAA or FAA to Canadian. In fact, the JAA and Transport Canada have recently signed an agreement to accomodate the conversion of licences. We're just waiting for some boffins in Ottawa to sign it into law.
It's about immigration not pilot qualification.
Can an individual immigrate or not? If he/she can, then "the right to live and work in Canada" is a done deal. Regardless of ones professional qualifications.
You're lucky you can immigrate to Canada. We can't immigrate to the U.S. (check the list of eligible countries with your INS) Unless, of course, you are one of the eligible professionals and according to the INS, pilots aren't professionals. At least they aren't mentioned on their list of eligible professionals. Maybe if we hadn't burned down the White House back when, the Americans wouldn't have held a grudge for so long?
If Canadian pilots can't work in the U.S. then I for one, don't want U.S. pilots working in Canada. The same goes for our JAA buddies. Until all are treated equally on the world stage and the licences are 'accepted' by all 'signatories', what's ours is ours and the jobs in Canada are for Canadians.
Good luck though.