I did it without a PEG. Lost 5-6 lbs a week. You must be very determined to get food down. Yes it hurts. For me the first 5 weeks were the worst. My tonsil shrank and the pain eased up after that (Your results may vary, and probably will).
The only advantage I see is that I kept my throat functioning so maybe moving on to more solid foods was easier for me. That too will vary.
I ate a lot of protien shakes, soup and after 5 weeks I was able to get chicken pot pies down.