Well we're getting into severe pedantry here but my own plastic 61.75 is very near what your old paper one says with one word changed that word is ON insted of OF
Issued on the basis of and valid only when accompanied by United Kingdom Pilot License Number(s) PP/xxxxxx/A/. All limitations and restrictions on the United Kingdom Pilot License apply
In section XII of my CAA PPL under Remarks/Restrictions it says "No Entries"
As I said earlier the ANO has no effect in the US other than in the case of flights in a UK registered a/c.
The FAA's intent in FAR 61.75 is crystal clear, as pointed out by Mark 1
Holds a medical certificate issued under part 67 of this chapter or a medical license issued by the country that issued the person's foreign pilot license
note the use of the word OR.
We'll have to agree to differ on this. Suffice it to say that if my UK medical certificate ran out while I was in the US I would have no qualms about flying using an FAA one.