Update...
After giving it some thought over the last few days I decided to return the bike for a refund (cost me £25 via City Link). Several reasons for this really...
Firstly, I don't think I will be able to find anyone to insure the bike. I tried a few insurance companies, and they all seem to only insure branded bikes from known manufacturers with serial numbers on frame etc..they won't touch grey imports. So for me, leaving £800 worth of bike uninsured anywhere is too much of a worry, even with good locks.
Secondly, the two big drawbacks for me on this bike are the not being able to pedal without power due to the motor drag..using the power all the time isn't good for fitness, sometimes I'll want to just pedal I think.. also the weight of the battery (4.5kg) makes it impossible to remove and carry around.
The dealer also hasn't exactly inspired me with confidence either after not supplying parts, not replying to e-mails and wildly "overselling" the bike on eBay. This leaves me with doubts about whether they would honour the 12 months warranty and whether the battery would last more than a year.
I've decided to build my own bike using a Dahon Espresso folding bike (or something else Dahon) and a conversion kit which I'm going to order from RFTEC in Austria. I will also get batteries from the same eBay seller Old Timer used. This should give a total project cost of under £900 with the advantages of a much lighter branded folding bike that I can keep in my 2nd floor flat rather than outside in the shed so it may last longer. I will also be able to remove the battery and carry it around easier (I plan to get 2 smaller 9-10A batteries).
Although I'm not very handy mechanically I feel confident I can do the conversion, particularly as it will be a front-wheel hub. I'm sure if I run into any problems I can call on you guys ;-)
Since the weather isn't exactly great for cycling at moment, I might just order the kit and batteries and hold out on ordering a bike until the new year sales, as I'm sure all the 2010 models will be discounted to make way for newer models.