Air Force OTS is going at about 10% selection rate for pilots right now. GPA, PCSM, and AFOQT are the most important scores, but they employ a standardized application scoring technique to ensure that their "whole person concept" is adhered to. PPL is not a "huge advantage", because almost everybody that applies has one. However, it is a huge disadvantage if you don't have one, alot of recruiters won't even waste their time if you don't have one. Degree is considered with GPA, for instance, a 3.2 engineering GPA is better than a 3.5 management GPA. Prior service, work experience, leadership exp, volunteering activities, self improvement activities, LOR's, criminal background, and adaptability are also all very important. All in all, the Air Force OTS application process is alot more structured and straightforward than the Navy's. At least that is my opinion, granted, I did have a ****ty recruiter when I applied to Navy OCS.
The AFOQT is not very difficult, if you prepare for it. Get the ARCO study guide and practice. It is a fatiguing 4 hour test. You need to be familiar with it to understand which sections you have time to complete and which ones you need to hall balls on. I took it twice, the first time unprepared and my scores ranged from 57-96 (max 99 on 5 different subsections). The second time I was prepared and scored in the 90's across the board. The PCSM is made up of the BAT test, a classified test similar to a computer game, the AFOQT pilot score, and flight hours. 99 is maximum, you need to be in the 90's to be competitive. Starting FY04, the min PCSM is 50, and the min. GPA is 3.0. There will only be four selection boards for rated and critical tech slots, two for non-tech slots.