Courtney,
wasn't the F-14/15 considered as part of the 'shall we try and build a fighter out of the GR1?' process - i'm convinced i've read that many times..?
part of the strategic issue is whether US client states - proper allies rather than tin-pot ****holes - have ever been stiffed by the US when it came to buying spares, MLU's etc..?
it purely military equipment terms it looks to me to be a no brainer - i rather doubt anyone is going to seriously argue that the UK was militarily more secure with F3's than F-15A/C's, or more potent with GR1/GR4's than F-111/F-15E, or that the fleet in 1982 was better off with Type 42 than Spruance class - or would they?