My understanding is that you do need a BFR when flying N-reg aircraft in the US (or anywhere else?) on a UK reciprocal licence.
As has been said, there is nothing intimidating about the BFR and it usually incorporates the check ride that most FBO's insist on.
I have been asked to do the turns on a point referred to and good fun it is too!
One anoying thing is that the BFR apparently doesn't count as the JAA 'flight with instructor' required in the second half of the 24 month period due to some bureacratic one upmanship despite the BFR being a more professional approach to the currency issue.
David