Rustle - one point I would like to clear up so it does not detract form the thread is this - whilst you are correct, the point is the existing PPL IR under JAA is to all intensive purpose inaccessible to the private pilot. Why - you still have to complete an onerous and in part college based theoretical course, which includes study material relevant to commercial IR operations in aircraft other than light singles. I may be wrong but the average private pilot simply does not have time in a busy career to devote to this. Now let their be no misunderstanding, I am not proposing a new rating should be easier just so we can achieve the rating and go and kill ourselves or worse, someone else. I am proposing the theoretical training should be relevant AND manageable. After all even the old CAA PPL IR enabled you to complete the study material entirely at home. Secondly, the rating must be renewed annually at a cost of around £400 combined with the problems of finding and booking an examiner with which to do the renewal. Yep - flying is not cheap and nor is safety, but is there a shred of evidence that the American model for the PPL IR results in a less safety pilot.
And finally - yep we can of course do an FAA IR and reregister our aircraft on the N reg. My point is why! Why be put to the cost, why endorse the FAA system when we are English / British / European, and all to do something which in fact with different paperwork (an FAA IR and an N reg aircraft) we could legally do with an FAA IR in European airspace.