I wish I could share Genghis optmism. What he describes sounds like a dream outcome.
If all that happens is grandfathering rights, then the IMCR will die off very quickly. With fewer people training for the IMCR, we will see fewer and fewer aircraft maintained to IFR standards. It's hard to justify a large repair expense, if a smaller and smaller percentage of your group members are instrument capable.
With fewer aircraft instrument capable, fewer people will revalidate their IMCR...a viscious circle.
Soon you will find yourselves in the same position as the rest of Europe... I would like to get an IR, but there are very very few aircraft available for private hire, or groups, which are legal for IFR flight, and even fewer that are well equipped.