Naples Air is right, more and more people are looking into the N Reg for their aircraft and undertaking FAA ratings as they are much cheaper (evem more so if you are prepared to go to the US and sit them).
IE:
JAA IR : £10,000
FAA IR, $3,300 or £2,300
Seems the word sucker can swing both ways :o)
Have fun (whichever licence you have paid for)
Julian.