I'm not so sure he'd appreciate the 'old dog' but an inveterate speeder of my aquaintance has been reformed by his two day course. And when I say reformed, I mean given to lecturing anybody within range on the evils of speeding. Which, for a cyclist is not easy to take...Can't teach an old dog new tricks.
Prosecute and take his licence away.
and I would imagine the costs to the justice system would be reduced. He paid for his course, which seems equitable enough