PL2 essentially "mushes up" a two channel signal and attempt to create a multi-channel experience. This is akin to attempting sex without a partner and the results may not meet your hopes but if that's the only option you have for surround sound, it may be better than nothing.
But, stereo should be feeding a clean, ungimmicked signal to your front two speakers. If you don't want a quasi MC experience and the cleanest sound, that's the way to go.
Ideally. you should be using DD or DTS for movies given the choice. But, PLII might have a somewat pleasing effect on some movies if the two digital formats are not available.