Sensible....and any one else who believes me...
Last time I looked at the FAR's on this question (though they do change!!) it clearly said that EITHER an FAA or a "foreign national" medical is suitable.
This made me ask the question - to my friends and colleagues at the FAA - about a UK (JAA?)medical expiring.
Their answer was that IF THE LICENCE WAS VALID either medical would do. I explained that UK requires the medical to keep the licence VALID.
Response was, "VALID, to us, means not expired, not revoked [cancelled], in current flying practice"...currency of JAA medical - they did not care about.
Most certainly would NOT like to try this one in a Court of Law. I agree with your interpretation...UK medical should be current...the FAA, however, don't care. Hmmmm.
Back to the other question though....you must have FAA medical to operate as a solo STUDENT in US airspace. UK medical is worthless.