@chuks, I'm pretty sure the question bank has grown to something like 4000 (or maybe it is 2000?) questions; still divided into major subgroups.
Yes, you are correct, the 727 has been "retired" as well, I think it's based on the 737 now. The 727 is used for the flight engineer written.
Mind you, my info is 12 years old, so I too, stand to be corrected.
Also, it is not spectacular news that one can obtain a copy of the FAA question bank, as it is the same with the (german) JAA question bank. It just cost more over here, and like everything else, is more tedious and time consuming.
I would also disagree with "FAA licenses are easier to obtain". I think that statement is missing a bit. Because just with having the/a license, does not grant you entry to any job you want. The selection, and then the training/checking process is very in depth. It is all geared toward the "practical", whereas the JAA puts a lot of weight on theory (most of which is useless in daily flying life, as well as forgotten, by the time the students/pilots reach full JAA ATPL maturity).
Having taken checkrides (for/during airline work) on both sides of the pond, I find the entire checkride experience here (Europe) a lot less stressfull than in FAA land.
Like with anything, IMHO, there is no greener grass on either side. At the end of the day the only real difference between JAA and FAA is politics. And a good portion of "my dong is bigger than your dong" mentality!