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Is it only as fast as a human recovers PPE?

As per the rules on page 126 of Between the Shadows, 5 P.P.E. per hour of rest or sleep. Nightbane Sorcerers may meditate to recover P.P.E. at a rate of 10 per hour, just as human Sorcerers do.

You are correct,of course, about the rate of return.

In all my Palladium games that use PPE, I use the "1/2 every 12 hours" rule from Beyond the Supernatural. In fact, I modify it to "1/4 every 6 hours". I like that far better.