I am trying to think of another example where you can step out of the local EU regulation structure as an EU citizen using a foreign asset thats going to be only used inside the EU. I can't!
I have never discussed which one is the best system. I don't really care if there is or isn't a difference.
I would be more sympathatic to your plight if it was actually legal for a EU citizen to own a N reg Aircraft. Its not you have to use a trust to get round the N rules about being a US citizen to own one.