The BAcC, along with other regulating bodies for acupuncture, are still in discussion with the DoH regarding statutory regulation. The process is ongoing - and does not look like being finalised any time soon, unfortunately. Originally, it was hoped to be sorted by 2009!!! The date being bandied at present is more like 2012 - but dont hold your breath!!
As for the comment about University degrees - I am pleased to have completed mine, as I have the confidence to practise, due to the information and guidance given by my tutors - some of whom are experts within the field of TCM.
The "other stuff" we were taught ranged from Western medicine, differential diagnosis and pathophysiology, through to health psychology and business studies - all of which are proving useful in the big world. The idea of a 3 year degree, is that when statutory regulation is enforced, people will need to have that level of training to be registered with the BAcC - although yes, grandparenting will be in use - or so they say at present.
Everyone needs to find the right way for them to learn - but personally I would recommend courses approved by the BAcC, as you and your future patients are covered then by their Codes of Practise and levels of competence.
Just my thoughts, via my own experience - but as I say - each to their own. Good luck to all embarking on courses in Acupuncture!!!!