Ummm, I think for the most part they will operate in the same manner if not even more strict. Usually, PP would give you a warning email and an opportunity to dispute it before they froze or removed your monies...NOW they remove/freeze then email you and you dispute it.
Just happened to me over a spamming client that I removed from 3 servers. It looked like it would cost me about $1800+ as my account went into the negative. At any rate I thought that I was screwed while trying to dispute it.
IN FACT - I found that if I type in the resolved complaint box - ITEM IS NOT TANGIBLE!!! Then they will see it and release the funds because not only does the seller protection policy not protect the seller for NON-SHIPPED GOODS, it is the same for the buyer. Case was closed and monies were replaced in my account.
As you already now there are many sides to every story...I would just use it until it becomes a problem. In most cases you will not have any problems.