We thought about upgrading our '05 197 right after purchase, but decided to give the MasterCraft cruise a chance first. I works fine for family skiing. For short lakes or set-ups it does take a few more seconds for the speed to settle in - it will overshoot a few mph then, gradually settle to correct speed and hold. I've driven a friends boat with PP and agree that it does lock a bit quicker, but other than that I think you'd find the MasterCraft cruise to be fine. "Cruise" sort of makes the speed control sound less technical, but it does have speed and rpm modes and works pretty darn close to PP, just no programming names/skiers in, etc.
2005 ProStar 197 w/1:1 MCX; Acme #843; 2007 MC ZeroFlex Tower