PMC made up to '98 was loaded to full M193 specs, and was great ammo.  The only thing bad about it at all was the especially large muzzle flash.

Then Klinton suspended PMC's import license over allegations that the Koreans were using equipment GIVEN to them by the US to manufacture the ammo with, then selling the product back to the US.  In fact, the Koreans had BOUGHT the equipment, and had every right to do what they were doing.  After a little over a year, the issue was straightened out, and PMC began to come in again at the end of '99.  But the new stuff was loaded down to SAAMI .223 specs.

Then, around 2000, some PMC-branded ammo began showing up that had been subcontracted to South Africa (the Denel Group) that was loaded even lighter.  I suspect that PMC brokered this deal during the time when they couldn't import ROK-made ammo into the US, and by the time that issue was resolved, they already had the South African deal in place.  I haven't seen any more PMC from South Africa in a while, so they probably dissolved that deal after the first run.

-Troy