ok, pressing up plus R1 even gives it a more powerful shot, and R2 plus down a weaker shot.
when i play pes, i use the digital pad, but when it comes to freekicks, i use the left analog. -so much more sensitive to the up-down factor. if i take one from 17 meters out, i keep it about 20-30% down, and keep it down the same percent while the shot goes.
in pes2, i always used the digital pad, and after a heavy week of pes3, found out that analog was the only way to go.