The new format licence has no photo included in it, but is still in the small(ish) paperback book style. But, as I said earlier, it needs a photo ID to validate it. No problem whilst working for an airline, as we'd have BAA/company IDs, but a pain perhaps for instructors and PPL's, with no photo to hand.
Why it can't be like the rest of the world, with a sensible credit card sized licence is beyond me.