I don't think PRCs are a necessary extension of a class and level system, whether or not subclasses and ACFs can fill the roll. It over-burdens the system by demanding short progression classes that can be entered at a variety of levels and are at least close to on par with any level they can be entered from. It's too easy to fall short or shoot past your goal. You could do it, but you need a tight grip on progression and every PRC needs to be considered with all possible base classes and other PRCs. The more you add of either, the more likely you are to fail. PRCs are a nice option in the right games, and one I'm glad to have in 3.5 (and its direct spin offs) where it's necessary. But you shouldn't need it any more than you need multiclassing; it's a class based game, if you can't persuade enough people to stay in a single class for every level to begin with, something has gone wrong.