I've been to UNIMA and I have to say it's a completely different thing. Whereas NPF seemed to be 'by puppeteers for puppeteers' and focused a lot on presenting shows as well as beginner classes within the registration, UNIMA is very much for the pro. Everything at UNIMA was pay per attendance; shows, workshops, etc. Registration was only really for entry to the after party stuff, although it did offer discounts on some things. The quality of the workshops was very high, along with forums, keynote speeches, etc. The quality of shows was also high.
I have a comparison of the two here:
http://www.puppetsinmelbourne.com.au/blog.php/2009/07/30/festival-wrap-upBut I'd also add that the next UNIMA in China (2012) may not be of such high quality as the last one (2008, Perth Australia). They have been very disorganised so far, and the little I know suggests it might not be as good. Having said that, I think UNIMA on a whole will want to present the best possible event, so there certainly will be a push to make it good.
I'll also add that there's no website (yet) and no info as to what the program is (yet), so it's hard to judge.