My direct experience with Futaba PCM 9 Channel receivers has been from 1991 forward in both gas and glow. I fly them with conventional, Deans or Hayes whip and Stealth Strip antenna installations.

They are in balsa, conventional fiberglass, and molded carbon fiber airframes. All except the Whip antenna are internal. They all exhibit range to the ability of the pilot to see the attitude of the airplane.
It is my personal belief that Futaba PCM has a better ability to reject noise than a PPM receiver and that anything that takes a PCM to the ground will do it quicker to PPM receivers with just more drama as they flail around prior to the crash.
If the PPM will respond enough to gain marginal control then the PCM will probably do it quicker and better.

On a glitch versus a hold there is absolutely no way of knowing which position the aircraft will be in when it goes into hold or which control surfaces will move which direction in a glitch.

You can look in my Gallery to see the range of aircraft that I am flying on PCM. This is less than a third of the fleet that is on PCM.
I have played with PCM and PPM transmitters set side by side on the same channel and found that the PCM will ignore the PPM signal most of the time but I would never suggest that you should knowingly try to operate in that environment.
Also there is a misconception among even some PCM operators as to how long it takes a PCM receiver to restore when it receives a valid signal. It is in milliseconds, the slow response that most people see is the result of turning their transmitter off and on to test a fail safe setting. The slow response that they see is the transmitter re-booting, not the receiver responding.

Again my only experience is with the Futaba 9 channel PCM receivers so I can speak to no other PCM system