2) What school would you favour?
a) JAA approved shool in US for integrated programme for about 40K EUR (see Ormond Aviation in FL) or school in Europe (where I live) for about 100K EUR?
Ormond Beach/EASA is not integrated. Neither are Naples Air Center, EFT, nor OFT. You can find JAA modular courses in Europe for much less than £100,000. (i know a place in Europe that has the whope program for €35,000) If you do an integrated course, it will definitely be costly.
I'm American, so I originally started with an FAA rating and since I married a European and moved to Europe, I did a JAA conversion. After seeing both sides, I fully recommend to anyone that they do a JAA rating in Europe. If you want a FAA certificate, go to the US. Going to the US to get a JAA license is a little bit backwards if you ask me but lots of guys do it.