The changes are not as drastic as I thought they would be.
Granted, I only have experience with Ultima HM. Medica II can be kept up nicely at all times without getting too much aggro. Even if I use Medica to top people off after an incoming AoE. Still not happy with the MP usage and healing lost in such situations though.
The problem I have with Cure III still is in hectic fights when people are NOT forced to stack up, it's really hard to keep an overview of who is where and if a Cure III would be wasted or not.