I love PB2 and eat it practically every day. It's just peanuts, with most of the fat removed. I eat it stirred into yogurt, or mixed with sugar-free jam to make a spread, or blended into smoothies. It gives that peanutty flavor that I love and a protein boost without the peanut oil.
No it doesn't taste the same as regular peanut butter, but it is a more than acceptable substitute to me.