A lot of frustration in the previous posting (which I totally understand, really), but some things to consider.
Comm pilots are a dime a dozen over here. Who cares. Companies want to see that you have an ATPL....whic you do not....so you are equal to the pilot with 200 hours in a Cessna 172.
I think this thread mainly is about beginners taking the FAA > JAA route, not experienced guys. That being said, as beginner you'll have to start out with a CPL, no chance at an ATP - obviously.
The main reason the US way is a lot more tempting is the cost factor.
A Cessna 150 costs 50 euros in the States while the same airplane costs 120 euros in say... the UK. Then you pay landing fees, ATC fees, etc....
Training in the US (including the damn conversion - which as you said isn't really one, but more like a new license with some minimal retraining) is still a whole lot less expensive than in Euroland.