10 second confirm times
Faster blocks don't mean faster confirmations. You have to wait for a couple of blocks before you can assume a transaction is safely confirmed by the network. With faster blocks you're getting less security per block, so you have to wait for more blocks before you can assume the transaction is non-reversible.
extremely 51% attack resistant due to pure PoS
Read the peercoin whitepaper. They actually say that their approach weakens double spend protection. An attacker really only has to accumulate enough coin age to have a good chance of performing double spend attacks. And then trying them is basically free due to the very low effort it takes to create a proof of stake block. That's the reason peercoin had to introduce central checkpointing, which is the main problem with its concept, because it adds a centralized component to the network.
