Don't know if this has been posted before, but this website does a pretty good job of explaining the new Chip & Pin regulations.
It clearly states:
There will be a number of important exceptions after 14 February. After this date the following cardholders will continue to sign:
cardholders who have an old style chip and signature card and were awaiting a new style chip and PIN card
cardholders from overseas who have an old style chip and signature card
disabled cardholders who have a chip and signature card
I found the last point to be the most concerning. The first merchant that denies a disabled person the use of their credit card is going to have one heck of a lawsuit on their hands..
http://www.chipandpin.co.uk/consumer/