Rejoice my fellow bimblers! The regulation was published as ED 245/2014, find and read it
here for instance. It is in force and being transscribed into national legislative frameworks. Some of the main elements:
EIR is established: you need a PPL, 20 hours crosscountry PIC and a NQ if you intend to exercise your EIR at night. It comprises 80 hours of theory (not clear yet if it is all classroom or distance) with a 75 pc pass mark on the test, 15 hours of flight instruction and a skills test. It is valid for one year and can be revalidated by experience or by a PC. This is what applies to the SEP category, check for yourself for multiengine if you wish.
IR is replaced with IR(A) or IR(H) respectively. They are equivalent in privileges as far as I can see but the training routes are much simpified. IR(A) can be acquired through the modular IR(CB) route, which allows you a broad range of potential credit for earlier IFR experience. I interpret it so that IFR under EIR counts towards IR(A) and required 80 hours of theory can be credited in full. Conversion from a non-EASA IR is made much simpler as well.
UK gets to keep its IMCr.
Excellent news and a good piece of legislation coming from EASA as far as I am concerned. I welcome any corrections in case I read things wrong or left out something.