Seeing all the threads over the past day or so related to glitches on the PC website, I guess I shouldn't be surprised:
http://www.flyertalk.com/forum/showthread.php?t=873225
http://www.flyertalk.com/forum/showthread.php?t=872475
http://www.flyertalk.com/forum/showthread.php?t=872685
http://www.flyertalk.com/forum/showthread.php?t=872456

Logged on today to make a reservation for a business trip, but couldn't find my saved Business travel profile. On further inspection, I saw that I now have two "Leisure" profiles (used when traveling with family), one of which has all the set preferences of my now-missing Business profile. No biggie, as it only took a minute to change the setting back, just another curious event in Priority Club web land.