Wargamer Blue,
In reply to your question I think the suitability of Deluxe for your gaming depends on the type of gaming you like. Some prefer playing historical scenarios (self generated or commercial) while others like generic tournament points based games. IMO the Panzergrenadier rules (V2 and Deluxe) are designed for the former.
Regarding your question on army lists. To my knowledge Deluxe is self contained with no outside resources for additional army lists. Deluxe does have a ton of late war lists, but also has individual unit values listed for most units from 1939-45 for the major powers (as does V2).
David Brown is also the author of two scenario books "Battles For the East 1939-1945" and Battles For the West 1940-1945" which are compatible with the Panzergrenadier series of rules.
The Panzergrenadier series of rules continues to be the basis for our "go to" rules set for battalion level games in our gaming group over the past four years. We were first attracted to Version 2 of the rules and later "adapted" to Deluxe. For us, Version 2 was more straightforward but Deluxe has evolved some nice new rules while keeping the core rules from V2.
Before proceeding further I need to point out that, I've not yet found a "perfect" set of rules straight out of the box. Many, many purchases of various rules and all found wanting to varying degrees. However, the Panzergrenadier series comes closest to my "sweet spot" so it was used as a basis for adding in house rules. As such we currently play with about 20% house rules and 80% mainly Deluxe with a generous sprinkling of V2 added in. I suppose that would make it a custom variant of the commercial Panzergrenadier Deluxe rules.
This review I posted on Boardgame Geek some time ago about Version 2 may be of interest to you.
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If you wish to see how the Panzergrenadier rules generally play and if you enjoy reading detailed AARs (plus have an evening to kill) then this AAR of a Version 2 game may help you decide if you like the approach of the Panzergrenadier rules. (open the "Setup (Photos)" file first)
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I have not done a review of Deluxe, but mainly inserted comments and custom rule additions at the end of each Deluxe AAR posted on my gaming blog, "Gary's Command Post."
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The URL above starts with "Infantry Tryout" from a December 2014 Deluxe AAR. The AAR listing in the Blog Archive (top left) can be expanded to open each subsequent Deluxe AAR in chronological order.
Hope all this helps you decide if these rules might fit your needs!
Cheers,
Gary