C182 pilot described a go around event at PAE when ATC cleared him/her for take off with a jet on short final; the reporter noting ATC's judgment between arrival and departure traffic was flawed.

Narrative

I copied ATIS on PAE and contacted Ground; copied and repeated clearance. I had a hard copy of enclosed airport diagram on my kneeboard. Runway 11/29 was closed with B777s; B787s; and B747s parked nose to tail the entire runway. It made seeing the layout of the airport difficult. I was to hold short of 34L at A3 and contact Tower. I contacted Tower on 120.2 and received clearance for 'a north departure on 34L.' I fly a Cessna 182 high wing. I always turn a 45 degree or so turn to scan the landing area of the runway I am taking off on. I fly [at] many uncontrolled airports. I always check the base area of the runway whether a Tower clears me or not. I saw landing lights about 500 FT AGL on short final on 34L. I immediately contacted Tower saying; 'A plane is landing on the runway.' Tower returned with; 'Take off clearance canceled; abort take off; immediate right exit on A3; contact Tower on 132.95.' I repeated the information and made a hasty exit off the runway. I contacted Tower on 132.95. The incoming plane was a corporate jet that had to do a go-around. I then received clearance from another Controller. The subsequent take off was uneventful. The sky was clear with no clouds. There was no incident; yet; I am questioning the closeness of clearing me on less than half the use able runway even though it is 9;010 FT in length; and the closeness of clearing me to take off with a fast landing Jet on final. I contacted a reliable CFII I know and discussed the situation. He relayed to me that the take off and incoming traffic time is much closer together in big; busy airports. We are accustomed to local clearances. Yet he said I had done the correct thing by questioning the controllers timing of events. I feel the controllers are not giving enough time between take off clearances and incoming traffic.