let me bust a few myths about Ontario PNP and a bit about EE PNP in general:
1. Ontario PNP program does not cancel your application; you will always receive PFL letter.
My experience is still from the time before the online application. However there were reported cases, when application was cancelled for missing documents. (missing photos, not written Name and DOB on the back of the photo, missing passport pages, missing birth certificates). In that case applicants got no PFL and their whole application package was returned with simple note, what was missing.
I do not follow the online applicants, but I assume, that they have the very right to do this as well.
Standard PFL will be issued, when your documentation is weak (they are not satisfied with the explanation and they need to see more evidence or better worded evidence).
2. When you have PNP you cannot be rejected on ITA stage, while using same documents.
It is not always like that. Sometimes certain documents do satisfy your province but not the federal officer. (for example, it is very common to be rejected because of your POF are coming from all kind of pension funds or investments)
3. PNP application is a very long process.
No, actually it is not (or it should not be). If you put together your documentation clearly and you were thinking a little bit beyond what is the minimum requirement, you might not even get a request for additional documents and all can be done within 2-3 months (for example one of the favorite thing to check from Ontario was , if you had a valid stay and work permit, when working abroad) (or if you only sent proof for 1 year of work experience, but forgetting that you also need to prove them your CRS points and entrance points - so up to 6 years of international work experience and up to 8 years of Canadian work experience).
Unfortunately the pace of this process is sometimes pure lottery - in 2015 they started to collect applicants and then in early 2016 went to some kind of strike or such. Which resulted into tediously slow process (they were taking their time just to show how overwhelmed they are). There is no for an applicant to somehow avoid this situation. And same can happen on federal stage as well.
But in general not too complicated applications can be cleared within 3 months (provided that you have shown the needed documents). And more complicated ones (self employment), would be somewhere 5-6 months.
4. PNP applicants have to wait much longer on the federal stage.
Not really. There is only one thing, that will delay parts of the process. At certain point (most of the time after your medicals are cleared and document completeness is checked), they do wait for the monthly PNP sheets from provinces. Here you are on mercy how fast or slow do provinces provide this information to the federal (and more like my guessing, they might even require one additional documents check to ensure that you meet 400 points criteria for OINP or employment with a certain salary criteria for BC PNP).
However at the same time the very longest of all - security clearance. So for the most simple cases, this might be app. 1 - 2 months delay, but for those where longer security check is needed, there is no delay when compared to other application with the same request.
Most of the delays are happening when you are waiting in the queue for your turn at embassies, and that is something you cannot influence (if your LVO is SGVO or NDVO, then you will be waiting).
5. PNP are waste of money.
Let face it, immigration is not a kids game and also it is no free meal. But even with most expensive of them - OINP, the cost is still lower compared to other ways (to go to study to Canada).
In exchange you get very good feel on your documents (so PNP do make mistakes only in PCC, but they do not tend to have problem to identify their NOC properly).
It will give you right to make the first mistake (like PCC) and still not to be worried not to get your next ITA.
And speaking of ITA it will give you almost certainty, that you will get yours within next 2-3 weeks, so it is way less stress about your points and predictions and more about getting what was still missing ready (PCC and medicals).
So if you have top score, wait for the direct ITA, but if you are dangling a bit below or around current ITA level, PNP is a good way (of course if you can find one suitable for you).
In any case you can still jump on a direct ITA and withdraw your application later.
And yes, you can be only picky, if you are on the top, but if you are not, then any province is good enough to start in.
6. Certain documents are waste of money.
Translating birth certificates of all family members is not waste of money. You do not know when will you need them. In addition, you only need 1 translation that is good for all. Same goes for your diplomas, or marriage certificate. All of those will stay with you.
And it is not uncommon for your employer in Canada to ask for previous reference letters, school diplomas or others, so when you have the package for immigration, you can use it as well.