I think that as a new years resolution I shall quit reading these aviation discussion forums so as not to become so depressed that I put my head in a gas oven and end it all
It isn't quite so bad, Chuck. Here in Europe, you pass the checkride, collect the piece of paper, and after that you do things the sensible way
Otherwise, I completely agree with you; it's nuts.
Presume you mean you can use a GPS instead of a map providing the GPS shows all current airspace on it ?
Yes, that would meet the regs. Unfortunately, the representation on a GPS moving map (Jeppesen basemap, generally) is insufficient so a printed VFR chart is also required for VFR flight (at least for the planning stage) - unless your moving map is one of the rare types which runs the actual VFR chart.
There is zero history of UK prosecutions in this area, so one can only guess. I suppose that a pilot flying without any nav data could not be prosecuted for it at all (in the UK; the USA would be different, and there are countries where a chart must be carried though none I know about in Europe) because he could claim he had the information in his head. But if he busted airspace, be would look a total d*ck before the Court and would surely get a bigger fine. As regards insurance, he would be covered because insurance does cover negligence.