The story from Europa Press quotes Minister of the Interior Alfredo Pérez Rubalcaba stating that traffic deaths during July, the first full month of the points-based licence, have fallen 20%. July was the first month in many years where less than 300 people have died on Spanish roads.
The decline in road traffic deaths was least marked in Galicia, North-West Spain. Asked about this the minister said that the road network in Galicia is a 'special case'.
As a former holder of a UK licence, I can agree that wallying around on few points tends to improve behaviour. It seems the Spanish are very attached to their driving licences, and don't wish to jeopardise the freedom of movement this gives them. Not least because most have to drive to work.