Really? Cause the Jack Charlton era Republic of Ireland teams were filled with players who could've played for England or Scotland but were coaxed into playing for Ireland. And not bad ones either - John Aldridge (England), Tony Cascarino (Scotland, England or Italy and as it turned out not Ireland at all ), Ray Houghton (Scotland) and Chris Hughton (England) for example. Of course now its a bit different seeing as we generally only take players who have no hope of ever getting into an England beyond maybe youth level.
I'd say England will eventually be in a place where the young foreign academy players that Premier League clubs are bringing in now could be scouted as potential English internationals. It's worked elsewhere (and probably Hargreaves would've worked out a bit better if he hadn't been so injury prone in the last couple of years) but of course that does bring in nightmare visions of tabloid headlines. Especially The Daily Mail