My wife recently replaced her Zulu 1 with the PFX, I still have my first generation Zulu.
My impression is, that the PFX is only a little bit quieter than the Zulu 1, even in 'favorite' mode. The quality of the microphone and especially the audio quality, however seem the to be significantly better. This comes however at the price of having to carry this monstrous controller around and a very sensitive ANR, what often creates unwanted and annoying noises, as described by NoHeat. The issues with the noises can apparently be reduced by setting it to the 'home' mode, what however reduces the noise reduction to the level of the Zulu 1.
Frankly, for such a high price, I expect it to be near perfect and would therefore suggest to first look at other headsets, like the A20, the Zulu 2 or something entirely different.