Orca
I too am firmly in the "buy F35C" camp, but potentially with a bit more flexibility on the when. If the "when" slips into the twenties, then an intermediate solution is required (at least for the FCBA bit of JCA) for which a loan is the only sensible option.
Phillip - I don't believe the Indians have announced their selection yet. However, as it's due this week, I bet the phones in both BAES and Dassault executive offices are managing about one ring before pick-up.
ORAC - I don't think the difference between cat n trap and STOVL training demands is as stark as you make out. I'm pretty sure that the various squadrons in US CVW do not spend the time they are not embarked sitting on the ramp at Oceana, North Island or Whidbey Island incapable of operations. Similarly, the USMC squadrons sometimes integrated into big-deck CVW don't spend years working up to it. That is not to suggest it's simple - CarQuals are an intensive and demanding training period as outlined in this ref.
http://www.navyair.com/LSO_NATOPS_Manual.pdf
What it does mean is that an RAF squadron can't hop on for a week and then be certified as "qualified" as per STOVL. However, with a little imagination (a significant number of field landings to be conducted as per carrier landings), you'd be looking at being able to deliver a CV-qualified element of FE@R at a readiness measured in some tens of days. Not impossible, I suggest, but would require more willingness to embark more often, such that it isn't a new experience every time. It almost certainly implies a bigger AE for Joint Force Dave to ensure that a six-ship sustained commitment to a land-theatre doesn't mean you can't deliver a CV-based component as well.