Watching this episode, like Ben & Eugene, I was reminded of the awful "Retcon" in Torchwood. It did make me wonder if Russell T. Davies is a UFO fan. And reflecting on that, I noted other similarities... Foster's morals in this reminded me of Owen Harper's use of the pheromone spray. And then there's the whole concept of having a massive "secret" base that everyone knows about. In short, I'm now convinced SHADO is Torchwood.
I would be astounded if RTD wasn't well acquainted with UFO.
No real spoilers, but there is a future episode which, rather pointedly explores the implications and morality of the amnesia drug. It's not a pretty picture.