I don't find it blocking things like that. But I do use the perma-allow list, especially for gaming. When I connect to something and it hangs or fails, I just look at the most recently blocked IPs and perma-allow any that shouldn't be there.
So far I've allowed all Valve IPs and company I work for IPs (for remote desktop). But have not had a problem with websites like BBC.
PG2 comes with 4 IP lists; Ads, Government, P2P and Spyware. If you still find it being a nuisance just block specific lists (like Spyware and Ads).