I think it's the only way to go, especially in larger leagues (12+).
What it does is increase the number of "stud" players available. I find that without PPR, the value of guys like LJ, LT, and Shaun Alexander (and maybe even Portis this year) are skewed in importance, giving a guy that drafts them an unfair advantage.
When you throw in PPR, now you have guys like Tiki in the same class and guys like LaMont Jordan (last year) and Michael Westbrook approaching the class. Also, now the guys that are in position to draft the top WRs have just as studly a player on their roster as the guy at the top of the draft.