I find it really hard to try things I'm not sure will work, or noodle around, or feel my way toward a solution, when someone's watching. Just incredibly uncomfortable. Since those sorts of things are where a lot of my value comes from, count me out on PP. It's fine in very small doses for specific purposes when both people want it and are already comfortable working together but I'd go fucking crazy being forced to do it every day on a schedule.
I like PP when I am working on an established code base making changes. If I'm working on a PoC or something, I spend more time with pencil and paper up front than I do at a keyboard, so PP is out.