I agree with the decision to keep players representing NH clubs away from the All Blacks. The problem is that there is no real way of comparing the quality between Northern and Southern Hemisphere competitions. NH rugby is arguably weaker in pace and tempo which is why SH players do so well. But just because players like Nick Evans might be playing considerably well in Europe it doesn't mean that form would translate if they were to come home. In fact, he would probably appear to be more average if he returned to the Super 15. I'm not saying he would be average, but with so many like players in Super rugby he would have to up his game to get back into the swing of the SH style again. That leads onto another vital point - I believe these players loose a lot of their up tempo qualities playing in Europe.
The other point is that you would be bringing certain players into a national side where they have had no experience either playing with, or against, the other guys in that team. The advangtage about having all out players in one place (albeit split into 5 teams) is that they get familiar with eachother's game considerably well and the combinations will then develop in those 5 sides. In addition, they would be playing against the best players in the world which can only be a bonus.