PPTV for iPad had a new interface just like Download PPTV for iPhone & iPod touch. It has category, region, year and video format selection now. Added top ranking for each category like movie, TV drama, anime… Of course, PPTV for iPad supports caching download ability for offline viewing. Playback smoothness depends on which movie or TV drama you watch. PPTV for iPad offline playback is a little buggy. I failed to play the video that I downloaded.
Personally, I still prefer PPS TV which is better in playback. And offline viewing is working fine too. Hopefully, future PPTV version can improve all these weaknesses.
Download PPTV for iPad here