I don't eat peanuts anymore, but I did try the PB2 a few years back. It's OK. I was never a huge PB fan, so take this with a grain of salt.

You can mix the PB2 with a little water and get a PB-like spread that is very peanuty in taste and decent in texture. It was great tossed into smoothies, oatmeal or sprinkled/mixed in to ice cream. I know there are a ton of PB2 recipes out there as well but I never made any of them. My PB2 jar (mostly full) just sat in my cabinet for years until I finally tossed it out when we went paleo.