"should changing PM_HOME to point to the new directory instead of /var/perf/pm work instead of creating symlinks?"
No, it won't work. PMLinux.cfg will not take effect because it is now separated from PMLinux binaries, and NOT at default searching locations.
The solution is either one below:
1) Create some symbol links to fully regain the original layout
So that we still run programs in /var/perf/pm/, but it becomes running them in /opt/ibm/pm/, while /opt/ibm/pm/bin/programs reading PMLinux.cfg in /opt/ibm/pm/config/ becomes finding it in /etc/opt/ibm/
2) Reprogram PMLinux with distributed FHS layout
Change PMLinux programs to find PMLinux in /etc/ibm/pm/
Then also need to correct documents to reflect the new locations.
Of course, I prefer 1), and only if the original implementation is not an option.
"should changing PM_HOME to point to the new directory instead of /var/perf/pm work instead of creating symlinks?"
No, it won't work. PMLinux.cfg will not take effect because it is now separated from PMLinux binaries, and NOT at default searching locations.
The solution is either one below: pm/bin/ programs reading PMLinux.cfg in /opt/ibm/pm/config/ becomes finding it in /etc/opt/ibm/
1) Create some symbol links to fully regain the original layout
So that we still run programs in /var/perf/pm/, but it becomes running them in /opt/ibm/pm/, while /opt/ibm/
2) Reprogram PMLinux with distributed FHS layout
Change PMLinux programs to find PMLinux in /etc/ibm/pm/
Then also need to correct documents to reflect the new locations.
Of course, I prefer 1), and only if the original implementation is not an option.