SM,
I too have thought about the paramotor route. Having spent a day last summer talking to a few u/t paramotorists? they spend a lot of time waiting for the very narrow 'weather window' before it is considered safe to fly. That said there were some other, more experienced pilots, flying and it looked absolutely fantastic. Having done some hang gliding a few years ago another option came to light and that is the Doodlebug. Many of the same advantages of the paramotors but a greater flying envelope. Both options a very cheap way of leaving Terra Firma without denting the bank balance quite as much as PPL flying. A few other links to those already given. Good luck with whichever route you take!
Regards, JR
http://www.paramotorsuk.co.uk/maincontent.asp
http://www.baileyaviation.com/baileycontent.html
http://www.users.zetnet.co.uk/flylight/
http://www.hanggliding.co.uk/doodlebug_b.htm#top