I've stayed at PC three times since it opened. I like it for what it is ... a glorified Disney version of a basic motel. I like some of the touches, details, music etc ... but generally wish the place had never been built because it is gaudy and tacky and has spread Disney's already declining maintaince team even thinner.
I would truely hope that Phase II is canceled outright. The one building of rooms that was completed could be demolished or even used for CPers housing. The other lobby and food court could likely be used for some other purpose.
But if there's one thing WDW doesn't need right now is added resort inventory. They are discounting almost constantly now as is.