I'm doing the following route;
Converting CPL(H) to UK NPPL(A) minimum 3hrs plus test (already done)
Solo flying plus 20hrs dual to convert to JAA PPL(A) (of which I'll do at least 10hrs simulated IF)
UK IMC rating (15hrs Sim IF)
Night Rating (5hrs Night)
FAA PPL IR (using a lot of the above simulated IF flying towards hours)
Then I'm going to convert to JAA ME IR(H)
Circa £25k max using C150 and a none equity share in a DA40D and I could do JAA CPL(A) IR for not a lot more!