I've long been a proponent for dropping the medical for PPL's. And it seems like the FAA is starting to warm to the idea as well.
Arguing For The End Of The Third Class Medical
The medical is only there because of vested interests from the medical industry. It doesn't prevent a single accident or make the sky any safer. If you can see and hear properly, then that should be good enough. Nobody can predict a heart attack anyway.
Let the FAA class 3 medical and the EASA Class 2 slip quietly into the night and be done with it. But knowing EASA I'm sure they'll find a way of demanding a Class 1 medial for the new Euro LSA class...