I got caught a couple of weeks ago - doing 38 in a 30 zone. In my defence, it was on an empty dual carriageway at 1.15am, but hey ho, I know that's no excuse.
Letter came through from the police asking me to confirm I was the driver and setting out some of the possible punishments, which were:
1. £100 and three points
2. going on a speed awareness course
3. going to court
I will opt for 2, if I'm offered it. But I note that the letter was deliberately vague, opening up the possibility that they could decide to make an example of me or something. We'll see!
A lot of it will depend on which police force's jurisdiction you come under and whether or not speeders are flavour of the week for prosecution. And the law has recently been revised to allow the possibility of much greater fines...
By the way, I bet it isn't your first driving faux pas in 40 years - what you mean is it's the first time you've been caught. I'm pleased to report that I've had a clean licence for over 30 years but I wouldn't dream of claiming I've been a perfect driver in all that time.