I own (4) PP2's and have been diving them for about 10 yrs now, overall I'd recommend them for a recreational diver, here are a few most notable flaws:
Battery screws are VERY tiny, soft brass, all too easy to strip the heads such that the screws can't be removed, so be very careful!
Can only store 25 dives, not even enough to cover a typical 27 dives on a week long liveaboard. (the newer ones have more memory but still nothing to write home about.)
Nitrox setting will automatically default to 'air' (EAN 21) whenever the unit powers down, rather annoying !
Unit hasn't really progressed much in many years now, so while it's proven, it's also technologically stagnant, and the price hasn't dropped to reflect it's aging / limited technology.
The PP2's are very easy to read/understand/program though, and they're said to be 'liberal' (in marked contrast to the dreaded snorkeling-only computer=Suunto) which means you're not needlessly cheated out of potentially expensive bottom time, so if you're within a certain budget, I can understand that, I just feel the COBALT represents the next significant step forward, and I'll soon find out how they do in the real world as 7/16-23 I'm testing out my pair of COBALTS in Belize (Sun Dancer).