I'd done a lot of reading about flashing the i7500 and wasn't convinced of the benefits. Bored and annoyed that Samsung UK have thus far not released upgrades that other countries have (VIA Germany for example) I decided 'what the hell' and did it anyway. Using the information in these two links it was exceptionally easy to move to II5 baseband. Thanks guys.

androidforums.com - flashing and rooting overview - cougar

dejancencelj.blogspot.com - flash rom samsung i7500 galaxy for dummies