From a PPL standpoint it knocks out the Class II for just 3 months nowadays. Not sure about the Class I situation though.
My mrs had it done at Moorfields (if you're going to get it done, go to the best damn place you can...) with their pewpew technology using 2 l@sers to first open the cornea and then shave the lens.
She had a little "ghosting" around the eye initially but has better eyesight than I do now (I wear contacts).