P-Code just stands for "Packed Code", its an alternate method for compiling, it aims on making really small programs...
I use P-Code often if my code in Native crashs.
I'm not sure how Native Code works, but from what I understand it attemps on minimizing the use of DLL libraries by including more of the code within the program from the DLL, so it speeds it up in a way - but it still requires the use of linkage to the library.
Also there is a difference between P-Code and Native Code... P-Code remains as a "high level" programming, thus the computer must work on interpretting it with more effort, where as native code has already been interpretted, therefore the computer does not need to do as much work on it...
Of course I could be completely wrong here
