Cessnasey,
As a CVD PPL, I can categorically state that you CAN get an IMC rating. (You couldn't 5 years ago, but the CAA actually fought the case with the JAA Medical Division and got the 'VFR only' bit of the CVL endorsement removed.)
Also, you only need a class 1 medical (+ audiogram) to get a full IR. Unfortunately, the other thing you need before you begin IR training is a Night Rating, which as a CVD you cannot get.
Hope that helps,
TPK
PS There's an extremely long thread on this in the medical forum.