I PLF more than most people. In fact, my default landing is PLF, with a standup being a last-minute decision if everything looks perfect. And it's a fairly honest PLF, generally done only when it's a no-wind or downwind landing, so there is some speed. I just don't run out landings any more. Frankly, my depth perception isn't great, never has been, which makes using my backbone/ass instead of my legs be the first point of contact (i.e. sliding) a really bad idea, too.
What has this bought me? A dirtier rig than most, and an injury-free jumping career so far. That includes about 500 round jumps (although most of those were standups). I taught PLF's back when I was an instructor, so I do know how to do them, and it's pretty automatic.
I highly recommend the skill, and enough practice for it to be fairly automatic. Unfortunately, the most realistic PLF nowadays would be to jump off a moving truck or something, but frankly the injury rate would be too high. And since generally the forward speed is higher than the downward speed, it'd be jumping off a lower platform than the 3-4 feet that we used to use for PLF practice. The practice should't injure you (though I did have a student discover once that she had osteoporosis after breaking her ankle jumping off the PLF platform).
Wendy P.