Well Puffy..in the "Real World" Flying in GA is fun..and for the most part profitable as well, and surprise, flourishing, under the foster and promote
attitude of their regulators, largely because most people do understand the regulations provided by them and abide by them. I think you would find very few "real" people in industry in OZ who would say the rubbish the CAA churn out as regulations are effective, just look at our safety record against theirs. If the regulations are not meant to promote safety, what the hell are they for?