Ok, so I have spent the past few months playing around with Windchill and Solidworks PDM.
Windchill:
Pros:
The account system was easy to use. Inviting new members was easy.
When our management account lost its privileges, (my mistake), the people at PTC were very helpful and prompt to fix my mistakes.
Revision control worked well, I could roll back parts easily.
It's online, so anyone can access it. However it is a bit slow...more on that later.
Workgroup Manager is deeply integrated into SolidWorks 2011
Importing my massive CAD library was easy.
Cons:
The Workgroup Manager can take a long time to download and build, give it an hour or so (if you are building it).
When our team received our new SolidWorks 2012 copies, we found out that Workgroup Manager was not compatible with it, and would not be until well after build season.
When I installed Workgroup Manager on our school workstations (whose internet connection is not the best), Windchill was almost unusable. Its a great piece of software, but only if you can reach it!
Overall, If I ever switch to PTC Wildfire, then I know exactly which PDM to use!
SolidWorks PDM:
Alas, our mentors and students did not want to switch to PTC products, so Windchill will be laid to rest for now.
We obtained a copy of Windows Server 2012 Datacenter through MS DreamSpark, and installation went without a hitch. (Just happened to have an old chassis lying around

)). The one thing about Solidworks PDM is that is seems to require IIS (Internet Information Services... I think) and an older version of .net. This means that it may not require Windows Server to run the vault, just a Professional or higher edition of Windows. Again, not fully sure about this. The trick to using the PDM is to remember to install the server products, and to install SolidWorks Explorer and Vault Admin (from the individual installation option).
Pros:
Quite fast. We have a wired Gigabit network...
Integrated extensively into SolidWorks (What else would you expect)?
Easy to upload and version parts.
Very easy to use.
Admin tools versatile.
Cons:
Many options are only available from the Vault Admin. This is to be expected from a business product though. Only the Admin should be capable of making a mess.
Still haven't figured out why batch uploading files does not work.
Local. Unless we use a VPN (ddwrt?) to connect to our local network, then we will have trouble cadding at home. Which is fine for us; all the i7 workstations are at school anyway.
Good luck with whichever options you choose, and feel free to PM me with questions.