The best source of the legalities would be the BMAA HQ in Deddington, who always have a couple of people on the staff who are absolutely up to date on this.
Realities of flying - microlights are tremendous fun; you'll encounter excellent low speed handling, often quite impressive performance (particularly field performance), more sophisticated engines than most SEP class aeroplanes, probably slightly less sophisticated instruments.
Payload is limited on the higher performance aeroplanes - basically to two 86kg adults and 90 minutes fuel. Lower performance aeroplanes tend to give you much better payload.
Very few microlights need more than 300m of runway under most circumstances.
Join the BMAA - it's hard to get much done in microlighting without being a member, and the magazine is excellent.
My recommendation is that you find what you want to fly - a sole purchase or syndicate (renting microlights tends to be problematic and I'd not really bother looking down that route), then sort out the conversion onto the aeroplane if you've had a go and decided you like it. There are plenty of schools, and a few freelance instructors who can do that for you. With your experience a couple of days with your own aeroplane and a good instructor will cover everything.
The handing IS different to anything you've flown before - particularly the steep approaches, high speed range, very short times on runways, and availability of very low speeds if you want them. All that takes a bit of quality time to get used to - that you'll need that won't be a reflection on your native ability, just on the amount of time spent flying substantially bigger aeroplanes. Most microlights (but not all) will be slower in the cruise than most SEP class aeroplanes.
I scratch my microlighting itch in a 3-way shared 912 engined flexwing. It cost us £8.5k between three, and we're running it at £40/month each plus fuel - which is about another £20/hr. That is realistic for syndicate costs. Just multiple the monthlies by three for sole ownership.
I used to share a Thruster TST - which is the crudest thing you'll ever find claiming to be a certified aeroplane. It was tremendous fun, and we were IIRC running at about £30/month and £12/hr plus fuel, so similar. The newer T600 models are one of the most downright fun aeroplanes I know - not fast, great on a short field, lovely visibility, great handling.
G
Last edited by Genghis the Engineer; 28th Jul 2016 at 22:17.