We stayed at PP last week for $199/nt (military rate). There were five of us (2 adults and 3 teenagers). The room had two queen beds and a foldout single bed and not much extra room but we were only there for an hour or two in the afternoons and to sleep at night.
Regarding the cleanliness of the room, I'd give it a 7 out of 10 (the first night two of the five glasses in the bathroom were noticibly dirty but housekeeping did quickly remedy the problem but it made me wonder what else they'd overlooked while cleaning the room. Also, there were five of us but every day we had to call for an extra towel (they always left us four and brought three extras when we called). Each day they would replace ALL the towels and only leave us four. That got annoying but oh well.
We did get nightly turndown service and rice crispy mickey heads upon arrival but I think that might have been because we had a German exchange student with us and it was her first time visiting. That was a nice touch.
As for the food choices, we only bought food in the hotel one morning and that was in the bar area where they had some breakfast items. The cost of five bagels, cream cheese, a container of fruit and five bottles of orange juice was over $30. So . . . that afternoon we went to Target and bought a bag of bagels, a container of cream cheese and a jug of orange juice for about $10 (that got us through two more breakfasts). We got napkins and a knife to spread the cream cheese from the bar area in the hotel.
We had a good experience with the PP room service "Big Breakfast". It easily fed both my DS9 & me & was a good fit since there isn't any cheap get & go options in the PP or in DTD.
Onto the pool. We originally had reservations at the Holiday Inn Express on Katella but after looking at a map, it appeared that might be a long walk to
Disneyland. Also, the pool didn't look too exciting and I thought the PP pool would be more fun for the teenagers. We went back to the hotel each afternoon for a swim but the kids never went into the pool (all girls). They just laid by the pool (and there were never any lounge chairs available). So . . . unless your kids will swim, staying at the PP for the pool could end up being a waste of money. Also, the slide is not open the entire time the pool is open. I think the slide closes at 5 p.m. You definitely have to go back to the hotel in the afternoon to take advantage of the slide--you can't wait until the end of the day.
The pool works well for those wanting a mid day break & for kids 7 & up for the slide. Probably not as toddler or kinder friendly as Hojo or DLH though.
As for the walk to Disneyland, it wasn't that far but it was far enough that I didn't want to go back and forth unneccessarily. We never rode the monorail because when we checked in we were told only one monorail was running and that the wait could be fairly long (I was under the impression from the DIS Boards that Disney hotel guests had a priority on the monorail but that wasn't the case). We either walked through Downtown Disney or through the Grand Californian (if I could afford it, that's where I'd stay).
If money was no object, i agree. The GCH is the way to go. & I'd go as high as $160 for the PP, but that's about as high as i'd go. I like the walk thru the GCH to the DL gates....& hopping to DCA prior to our mid day rest makes the PP a very convenient location for us. I also never would use the monorail from the PP....unless i wanted to ride the Monorail. 
I'm undecided on if the PP is worth $199/nt or not but the location is close and the room met our needs. I wasn't disappointed but I wasn't expecting much either.
Pirates Cove pool/play area...I'm really looking forward to seeing that!!
I wouldn't even know where to eat off site on that side by PP. OTOH, I'm very familiar with that area of Harbor near Hojo and Fairfield Inn. Hojos is completely sold out during my dates (except for June 11). I couldn't even book at rack rates. My DH likes Hojos so much (customer service, location, enclosed corridors), we've actually stayed there and paid rack rates in the Holiday season when we didn't know about the Dis Discounts. 
Here it is, it's from MousePlanet: 
