I'm in the same boat as you; I'm considering undertaking it, but the thought of standing in front of a whole classroom of people and lecturing them about something they probably couldn't give a toss about is rather scary. Though, of course, I actually have other 'reasons' for not wanting to take it.
That said, the EPQ does seem to resemble a certain aspect of the independent learning that underpins higher education and I do kind of feel that presentation skills are something we're going to have to develop at uni anyway (whether we like it or not), so this could be useful preparation (or not
). If you plan it out and try and think of possible questions that you could be asked before you do the presentation, then you could think of how to answer it in advance. If any unexpected questions do pop up that you don't know the answer to, then you could always make something up on the spot or spout some rubbish which is so unconvincing that it's laughable. Then people will laugh, your presentation will end on a high note and they will remember what a good presentation it was (or so the story goes).
If you don't want to go ahead with it, then there are always other ways of making your personal statement look good; extra-curriculars obviously help to enhance it, but you should play to your strengths. If you haven't got that many ECs, then no matter, but what should come through is your enthusiasm and passion for the subject you're applying for (which might perhaps stem from interest in your current studies or maybe reading around the subject), and the confidence in your own ability to study for that degree. Personally, I think a personal statement is more about how you say something rather than what you say.