I think you and I are in the same boat. There have been a number of threads about the NPPL over the past few months, try searching through the archives and you will find the past discussions.
However to put you in the picture, the NPPL will mean you are able to fly in daylight VFR with up to 3 passengers in UK airspace. The medical, as you say, is the same as the DVLA professional driver and should be easier to pass. There are some that disagree with this point but I will move on!. You have to complete a minimum of 35 hours training and then the Nav and GFT tests. There are still the same exams (Law, Nav, Met etc)as the JAA PPL. BEagle, who very often contributes to this forum is on the steering committee and is a source of what stage it is at etc. I believe that it is due to be introduced on the 1st of May? but I am not sure. I think it is expected to be a sport licence and not a starting block to an avaition career and therefore there will be no IMC, night etc rating, but I think you can do differences training for tailwheel, variable pitch prop etc.
I have now got 50 hours but no solo so I can't wait until the new licence is introduced!
Good luck