A bigger crunch (for some) is what happens in the rest of Europe.
The UK might get an airways-only dispensation but that's no good for going abroad.
A related matter is when/if we are going to get traffic upload via Mode S. It doesn't look at all likely in the next few years, and the GA scene isn't exactly growing, most of the planes aren't likely to fit the displays, and all the bigger planes have TCAS anyway. I have spoken to both Garmin and Honeywell and they are not aware of any moves in this area. Both say (as of course they would!) that 2005 is the real date if one wants to fly in Europe IFR.