I was two pieces away from a complete Weta statue line (legolas/gimli and Black Gates Aragorn), and just cancelled those orders the other day and boxed up my complete statue collection and passed it along to a friend who sells on ebay. I love the Weta stuff, but the likeness were never a strong suit for me, and some of the choices were strange, like nekkid Lurtz and Armored Pip. When I saw the PF Lurtz, I was blown away, and having seen some of the other Premium Format stuff up close, like Freddy and Jason, Luke and Han, I was ready to make the switch.
Personally, I like the larger scale, I like the mixed media, and I like the better portraits (in my opinion).
The Weta stuff always had a certain appeal that the guys and gals that actually had a hand in the film sculpted some of the pieces, and not to discount what they have created, but I much prefer the sculptures coming from Andy, Mat, and others at Sideshow!