I am not sure if our friends based in the USA realise what is happening in EASA-land.
Yes, a standalone FAA PPL is a great idea but, on it's own, it will soon be worthless in Europe. It used to be that you could live in Europe, have a standalone FAA PPL/IR and fly an N registered aircraft anywhere in the EU.
Between now and 2014, you will need an EASA licence as well as your FAA licence to fly an N registered aircraft in Europe.
I would think the idea that you could in the future quit flying for many years, pay nothing, and still have a pilot certificate (subject to a non-fee biannual and medical) indefinitely would be motivation enough, regardless of 61.75 issues. It'd be a non-perishable asset
A friend kept his FAA licence current but allowed his other European licence lapse. Come 2014, he will be grounded. The FAA licence may not perish but the ability to use it in Europe will.