Logic claims to have Full Plugin Delay Compensation. I find this to be a technically accurate claim, although in actuality there should be a caveat to clear up at least one little "problem" encountered when Bouncing files, with PDC engaged.
Logic does accurately compensate for the delay (or latency) induced by plugins in the chain, when bouncing. However, for what ever the number of samples of latency Logic is correcting in any particular bounce operation, that exact number of samples at the beginning of the bounced output file, are going to be SILENT. ??!! That's right.. silent.. blank.. as quiet as a church-mouse. In discussing this issue with Apple, they seem to think this is completely acceptable, however I say that this renders the claim (of Logic) to have "full PDC" to be a little bit deceptive.
If a particular bounce involves a plugin processing latency of say 64 samples, then the first 64 samples of the bounced file, no matter where the start-point of the bounce may be, are going to be SILENT, or blank.
Begin your bounce by a distance at least as great as the delay for which Logic is compensating in each particular bounce.. usually a whole bar would be a safe bet, unless you're doing some huge processing via plugins.
Following is an image is of several files in Logic's Arrange window, which will demonstrate this whole issue visually. Follow along with my explanation of what you're seeing:
1). I placed a "source" file on an audio track (the top file in the image), which was a file with an audio spike repeated over the duration of 46 samples. The signal portion is selected.. samples 0 - 46.
2). Underneath that, is a bounced file (of the "source") with PDC DE-activated.. no compensation.. the signal portion is still 46 samples, but the 46 sample section where the audio occurs is from sample 33 - 79, because the plugin (HydraTone) I used has a latency of 33 samples. So the 46 sample bit of audio obviously doesn't start until the 33 samples (of latency) have passed (because delay compensation was not active during that bounce).
3). Then I bounced the "source" WITH PDC enabled. Note that the end of the signal area is at exactly the same point as it ends in the original (at sample 46). The beginning of the file is silent, for the first 33 samples (which IS the latency for HydraTone @ 44.1KHz). I conclude from this that the bounce IS compensated.. it's just silent for the duration of 33 samples (which is the "deceptive thing" I feel Apple needs to come clean about). It's not late.. the file above it shows what LATE is.. when it is not compensated at all. This one is not late, it's merely missing the first 33 samples. The selected area is samples 0 - 46 samples across all three files.
4). & 5). The next two files demonstrate the effect of two different preroll amounts.. the first one pre-rolled by less than the 33 sample latency value, and the second pre-rolled by at least 33 samples.. indicating that the silent portion of the file shifts earlier with an earlier bounce, and that the audio that finally does come through is sample accurate with the original (compensated).

I believe this demonstration totally supports the theory that the audio is indeed compensated.. and the only missing part is the beginning.. silent for the number of samples of latency Logic is adjusting for when the bounce is made (depending on which plugs you have active at that moment).
I am concluding from all this that PDC IS working.. or, at least it is compensating for the processing latency of plugs. BUT, Apple needs to get us all of our data in our bounces.. it needs to be smart enough to figure a "pre-roll" of the latency factor (or buffer it in a better way, perhaps), and stop muting the audio for that period. Send them your feedback, and let them know how you feel... I have.
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