ICAO IR to JAA IR - sensible idea?

[Island Hopper]

I have thought about this route, and have concluded that it is probably not a sensible idea.

Why go through all the hassle of 2 CPL tests, 15hrs extra IR training minimum, 2 IR tests, theory exams and medical in 2 countries, and all the paperwork and fuss of getting your licence from 2 aviation authorities......

.....when you could do a JAA IR in Europe, with no conversion necessary.
Czech Rep & Spain are 2 examples in which an IR is way cheaper than in the UK (although admittedly a bit more than the states).

.....or alternatively when you can do the JAA CPL, multi-eng, and part of the JAA IR all in Florida, and complete the JAA IR in the UK.

When these 2 routes exist, I can't see an advantage in converting an ICAO CPL/IR to JAA.
I haven't costed it all out, but I very much doubt it would be cheaper to get an ICAO CPL/IR + JAA conversion.

Am I missing something?

IH