I had avoided posting on this thread for a while but Query's comments motivated me to post.
As a PPL with a lapsed IMC and twin rating with one trip to France under his belt (6 years ago), my operations fit nicely into the NPPL category. If it saves me shelling out for an expensive Extra Cash Generator (ECG) every couple of years it suits me fine. Don't forget that virtually every doctor on the planet agrees that the ECG does NOT predict imminent heart failure.
It would also put a person I know back in the air. He is in his early seventies and gave up his CPL when he turned 70 cos he had to have a medical every 6 months. He is fitter and more active mentally and physically than a lot of 40 year olds that I know. Plus he's ex RN FAA, flown pretty much everything from big piston carrier fighters, early jets, and a large selection of light aircraft since. I would have no qualms at all about flying with him and look forward to him getting an NPPL.
I'd also like to add my thanks to BEagle and his fellows for getting this common sense attitude established with the CAA.
I've heard rumours that France is going down the NPPL route also and may set up a mutual recognition with the UK regarding the validity of their respective licences.