Absolutely, positively NO.
As a regular, honest player of Bvarious PB enabled shooters over the years I've lost count of the number of times I've been booted out of a game unceremoniously because PunkBuster decided I wasn't "compatable", forcing me to run their darn update program.
It's inconvenient, it doesn't work as a genuinely inobtrusive background process and worst of all it has prematurely, and with no warning, booted me out of proper clan matches