yes, PWM (when implemented properly, like in the provari v2) does help maintaining a constant vaping experience (voltage) while the battery discharges.
some of the devices using PWM, like for instance the kick/DNA/darwin by evolvapor, even manage to maintain a constant wattage output regardless of the resistance of the atomizer(s) in use.
to answer your last question, recent lavatubes (so-called v1.5) do use PWM for maintaining constant voltage; I had a LT v1.5 and it worked decently, even though its PWM wasn't able to actually deliver the voltage shown on the display, under load.
hope this helps.