Got my answer
For anyone who may be curious about this question, I brought it up when I called Transport today to inform them of my new modification. So...if you have looked at the Class 4 medical application, there is a list of problematic medical conditions; if you have no history of any of those problems, you sign it, get a doctor to certify and sign it, and you're done. If you have any of those conditions in your history, however, you have to go to a CAME, and they end up doing a full medical just like for a Class 3, and apply the same standards. In other words, no advantage whatsoever over the Class 3 and PPL, according to the person at the Edmonton Civil Aviation Medicine office I spoke to today.
Moose Jaw Saskatchewan
RV6A "Second Wind" C-GERZ (born N242UL)
O-360 A1A, Sensenich FP prop
Those who think any system is foolproof greatly underestimate the ingenuity of fools