Nige,
I cannot comment on PEF shot, but I have used successfully PDCU with RAW PNG and JPEG files.
However beware the lens distortion correction should only be applied to zoom lens photo. Most prime lenses have nil to negligible distortion. What lens(es) do you use ?
An alternative is the software PTLens. It is an excellent lens distortion correction software, well-liked, well-priced and very efficient:
PTLens. Highly recommended.
Typically I use PDCU for light lens distortion correction because I do my PP with PDCU. For heavy lens distortion correction, I prefer PTLens for the quality and accuracy of the results.
Hope that the comments will help.