We've stayed at PBH twice and visited GP many times to eat.
Needless to say, PBH has the benefit of being onsite at Universal and, for me, the whole experience is greatly enhanced by being onsite. And, of course, you receive the FOTL perk. Each time we've stayed onsite at US (twice at PBH and twice at HRH) we've managed to get an Annual Passholder discount. At rack rates both resorts are overpriced.
GP is an amazing resort, literally just outside the bottom right-hand corner of WDW property. It's worth a visit just to look around and all 3 eateries are good - Sunset Sam's Fish Camp is set partly on the sailboat on the marina in the Key West area inside the hotel; Villa de Flora is a mediterannean buffet in the St Augustine section and very good as buffets go; The Old Hickory Steakhouse in the Everglades part of the hotel is one of our favourite places to eat, but quite expensive. However, I can't imagine choosing to stay there. I'd rather either stay onsite with all the benefits that brings, or at The Ritz-Carlton which is incredible both in terms of quality and service.