PVC should be identical to Unviewable+ SIMPLE protection level. I believe that's where the similarities end. Certainly, it was a great program when it was first launched many years ago. Hacking methods have become more sophisticated since then, hence the need for a stronger protection.

Yes, I know this! I read extensively about Unviewable+ after a
recommendation by Chris Newman. It appears to modify the binary in the
same way PVC does, to render VBA projects unviewable!