I'm about a week from having not smoked dust for exactly one year. This is completely due to availability and the fact that I don't go out of my way to make drug hook ups. Infact I just let them happen by chance. It keeps my use in check.
Anyways, I've never used any excessive amount of PCP before, so my accounts might seem different from the other responses you're going to get.
With a dip or two I become very mellow. My mind starts working more slowly. My perceptual intake is slowed. My extremeties become slightly numb. I lose coordination along with inhibition. I feel happy, friendly, sociable, talkative. As far as it effects my personality, it's completely opposite of the stereotypical experiences you hear about. I get very peaced out and tranquil. It causes some minor hallucinations, slight visual patterns over everything and music becomes utterly hypnotic. I've always felt as if I had the energy to run the mile, but I just lacked the motivation.
A typical dust/PCP experience for me would consist of sitting on a couch in someones basement listening to music and talking for hours.
There was one incident I'll share because I believe this is probably what a large dose of PCP would do. I had smoked some green twice the previous day and stayed awake with no sleep all that night working on music. The next morning I packed a cigarette full of green to get my mind off sleep deprivation and to stay awake. This was around 8am. By 4pm I was over at my girlfriends house with two foils ($20's) of green. We split them up so each of us had about half of one smoking it with weed from a bong. Everyone else said they didn't feel too much more than the weed but I remember everything looking like I was in a K-hole and feeling very weird. Eventually I had to stop smoking and had a difficult time making it to the bedroom to lay down. I started sweating profusely and my vision closed in and I could only see small points. Suddenly I through up and when I looked back up at the ceiling their were strange spiraling colors. I was scared out of my mind and it was like a very intense psychedelic K-hole which lasted for about two hours.
So keep in mind that sleep deprivation and marijuana both will increase the effects of PCP.
This is also a drug you want to do at home in a small social setting or outside. It's one of the very few drugs that seems much more fun to do in a backyard in the summer time having a barbeque. When I was serving two months in jail, there were a few older guys who would tell me their stories about smoking "love boat" in the summer at cookouts with friends that always involved people getting naked (high doses make your skin hot and itchy) and jumping in pools half drowning as they forget they need air to breathe.
Take your time smoking it. It's not something you need to smoke as much as possible all at once holding it in to get off on. See where it's taking you and how you're doing and you should have a great time. I would definantly discourage you from using it in a club environment, though.