I did a direct comparison between the PVA from Toolstation above and Titebond II. This isn't the mix sold as a bonding agent, but the wood glue.
I went back to Titebond, mainly because of the physical properties - viscosity, open time, ease of spreading over the surfaces, etc. Cheaper PVA certainly works and seems to make joints that are just as strong, but I don't find it as easy to use. I was cramping extra pieces on the bottom of 4.5m lengths of skirting, with biscuits every eight inches or so to keep everything aligned. Both glues did work, but I think the "cheap PVA" ones were starved in places by over-enthusiastic clamping on my part.
Two key things about the "502" Toolstation stuff: I found it too viscous, and the nozzle is truly awful. I know you can just add water in theory, but you don't want to be guessing that in the middle of a glue up, and if that's their idea of a good nozzle I simply don't have any respect for their QC processes.
If/when I can take the risk I'll use it. Otherwise Titebond 2.
E.