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Hi Doug...!
...definately...!
For all of the reasons you mentioned....!
It took off in the early '80's, involving a lot of unfortunate deaths, but today they are much better built and much more reliable.
And their performance easily matches, or even out-performs a Cessna 152 at a fraction of the cost... 8)...!
Note that a lot of the "cheap? spam-cans" are reaching the end of their life now.
Ultralights/flexwings/3-axis microlights can be flown on a simpler, and cheaper PPL, (VFR only), radios optional, and operated on a "permit to fly".
80% of amateur pilots cannot afford to fly Group A aeroplanes anyway, (youngsters note!).
A flexwing similar to the one in my pics can be purchased, second-hand, for around £3,000...!
Or a Thruster, high-wing, tail-dragger for around £6,000...!
They are a colourful sight at our many fly-ins and the simpler flexwings can be de-rigged and towed home on the back of a trailer and parked in the garden...no hangar required...!
(If you have got a big enough garden, you can even take-off and land there if required)... ...LOL...!

My latest copy of "Todays Pilot" (issue 31), is  a special Microlight edition...

http://www.todayspilot.co.uk

You would find it an interesting read...!

For more info, visit...>>>
British Microlight Aircraft Association, (BMMA).

http://www.bmaa.org

Cheers Doug....!

Paul.

P.S. We are fortunate in having an excellent collection of General Aviation magazines on sale over here... ...!