To be fair all the "restrictions " were primarily folk law passed down from one person to another and not helped by many CAA officials who also thought it was illegal . In fact you can pretty much fly anywhere in the world with FAA licence on G reg machine and the only restrictions are related to IFR ...so not bad compared to most things CAA related !!
Next question is do you keep your group ( single turbines in my case Gazelle, H 369 , B 206 + L , As350 , Enstrom 480 ) current if you go overdue your annual check flight and then do a check on one type ...and you have flown the other types within 12 months but on your FAA licence ? ie technically your type ratings have lapsed but you have kept current flying on your FAA licence . Any answers ??