Hi Tim
PP is still at least as good as it was ten years ago. We have been coming every year since 1994, often more than once a year, and in many ways there are improvements.
The beach is probably cleaner and there are more loos. The road system is vastly improved, by-passing traffic around the town. The general standard of restaurants has improved (if you ignore Tex Mex, Burger King etc), and I think that there's more choice.
Parking in the town can be a bit of a mission sometimes, but that's the only downside I can think of.
There's a lot of debate about prices being higher on this website, which is a fantastic place to find all sorts of information from a great bunch of people.
So go for it I say. I don't think that you will be disappointed.
Best wishes.
Duncan