No need then to lie in bed worrying that the IEE or Part P police will
come knocking on your door at 5am demanding to conduct an inspection.

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There are no Part P police, thats a bit silly to say the least.
What does matter is that if you have reason to claim on your insurance and the work is not certified the Insurance company will just walk away, even if the claim is not related to the electrical work. the other thing is that after September ths year , the sale of a house will contain a statement from the current owner that any work carries out complies with the building regs. finally from January 2005 the house owner is legally responsible for the electrical safety of the property. I dont say the new law is good, in fact it has nothing to do with safety but a lot to do with tax collestion. I th real aim was safety they would have made it illegal for anyone but a qualified electrician to do any work, but that might lose votes!