Billiebob -> thanks for the clarification regarding the UK exemption.
I think the JAR (and EASA to come) rule is actually implemented in most JAR countries - but no UK.
Here in the northern countries the rule actually works like a charm. And if you actually have flown a lot of IR (like on an FAA IR). The IR-refreshment course will reflect this, and in most cases you get by with just the 1.x hour PFC.
The really good think about this is that you can customize a course thereby reflection the experience (and lack of) that the student has. What you have now in the UK probably requires an examinor to fly the PFC, and if you fail, you need to do it again etc.
In other JAR contries the first part of the course can be flown with an IR instructor (=cheaper), and the examinor is saved for just the PFC itself.