I think a more pertinent point to be brought up here is "what am I going to do to survive?" Sure, maybe PE is better that SE, or vice versa, but if you only carry a 3" PE or SE blade, then that is the one that you are going to rely on for survival. We can monday morning quarterback the question of "well, what if he's wearing this type of clothing or that type of clothing..." but the bottom line is you are fighting for survival. You have to do whatever it takes to incapacitate your attacker and then get out of there. In my experience, the most vital areas to accomplish this incapacitation are the face and neck. If he can't see or breath, he can't fight. Remember, you should not be thinking about standing there going toe to toe with somebody. Strike fast, strike hard, and run away to safety.
Additionally, some localities have restrictions on blade length. If you carry a larger knife for self defense, and it is illegal to carry, guess who gets jammed up? Yes, you will be alive to experience our legal system in action, but unfortunately you will be on the wrong side of it. The criminal who tried to attack you will be looked at as the victim. (sucks doesn't it?)
Just my two cents worth.