I think after I get my ultralight ticket, I'll get about in a rag and tube for that very reason. It's better to be flying than dreaming about it. I guess it's like driving a car - your first is the one you make all your mistakes in so buying something fancy and expensive is just silly!
Having said that, I think my ideal plane (the one that exists, not the love-child of a tiger moth and a catalina that I imagine) would be the upcoming AAK Bushman. Rough and read, but a bit more substantial than a Drifter or something. And probably better in the cold Canadian air that I'll be buzzing around in in a few years.
*edit* Baphomet already suggested this!
Actually, this might be an unpopular suggestion. But the solution might be to have all new RAA pilot licenses for low-performance aircraft, and requre a minimum number of hours flying before you can get the high performance rating. Much like motorcycles with the 250cc restriction.
This would mean all new pilots would learn to fly real ultralights, with their advantages (any open space is a field, not just a black stripe!) as well as limitations, so they would (I think) be better pilots. Additionally the number of LP enthusiasts would increase, I think, which would increase the influence of more "traditional" members.
But that would be very unpopular with instructors who have invested in a few plastic aeroplanes!