After looking into it much more and also reading advice from this thread, I have decided against taking up this offer. While it will be a very good deal for some, it won't have a big impact for many others and I fall into the "many others" category.
I think it will suit the regular grinder who is already gold or platinum level and usually plays 20K+ hands per month every month. But if you are bronze and a casual player and/or someone who doesn't play the cash tables very often it would involve upping your rate of hands played quite considerably.
For the bronze casual player you would basically have to turn into a regular grinder at the cash tables playing say at least 4 tables at a time at $25NL and upwards for a minimum of 4-5 hours a day. You would also have to do this for months rather than weeks to achieve the milestones they offer. Basically, you would need to turn into a reg grinder overnight for a sustained amount of time to reap the big rewards. You have to ask yourself could your bankroll take it really.
On the other hand it is a great deal for those who are either already gold/platinum or are on course to those levels. Supanova should be gained relatively easily if you are already in that position and a few milestones would be within your grasp. It is also a faster track to the rewards for those already aiming for those goals anyway, saving them several months of extra grinding.
There is nothing stopping bronze/silver players making a few hundred bucks over the course of a few months but you have to ask yourself if it is worth your time and risk.
The reaction to this promo has caused quite a stir among non UK players at
pokerstars because many feel that by offering this promotion to a particular location/country everybody else is being discriminated against etc. Many feel that giving a chosen group the chance to fast track their way to Supanova status and the rewards that go with it is both unfair in the sense that some don't need to work as hard as others to achieve that level, and that it de-values the whole VIP system at the same time.
Many have stated ( in other forums ) that Pokerstars have just handed UK resident players a $2K+ bonus for free while they get nothing. They say it is a slap in the face to them for their loyalty to Pokerstars over the years etc.
They may well be right to feel that way and say the things they say and I can certainly understand their reaction and frustrations on the matter. Hopefully they will restrict their frustrations to letting Pokerstars know how they feel and not let it spill over to being unreasonable to UK players as a result of the promo.
Some of the stuff I have read elsewhere is quite shocking and disappointing tbh but the one thing I have noticed about Cardschat is that nobody has bitched about it and for that I take my hat off to you. Also, while I know it won't change anything, here are a few points I'd like to make that might help cushion the blow so to speak.
1. Unless you are already aiming for Supernova status and/or are gold or platinum at this point in time, this promotion is very difficult to fulfill.
2. The majority of UK players won't get near what is being offered unless they are already regular grinders who have the time and bankroll to go for it.
3. A pokerstars rep at another forum claims that this is a "market testing" project and once they gather up all the information they need as a result of this particular promo, they will decide if it's feasible to open it up to other countries. ( I have my own thoughts on whether this is blowing smoke or not but that's what the guy more or less said )
4. Residents of the UK are fortunate enough to pick and choose where they want to play
online poker and Pokerstars are well aware of that. They can see an oppotunity to tap into that market and try and attract those players to their site because they know there are plenty of UK players around that don't have to use Pokerstars at all, and that those same players are receiving decent rake-back elsewhere already.
( This seems more obvious than the "test" Pokerstars claim they are running. Saying that, I do think it is a test for other Euro countries getting it in the future )