Personally, I would go for a LAA permit light aircraft.
Running costs are virtually identical with the same engine but you have a bigger choice of types especially vintage and taildraggers- and they are often cheaper to buy than a C42.
See also the comments on the recent "Microlight, Permit or C of A ? " thread.
PS I have a Kitfox Model 5 taildragger with Rotax 912ULS.