Yes, you need PPE. What level of PPE you need may depend on the design and rating of the equipemnt. If the equipment SPECIFICALLY says on the front that it is "Arc Resistent Equipment", then per the new 2012 NFPA 70E, that is HRC 0. If not, it is the HRC that you have determined in the now MANDATORY Arc Flash Study.
By the way, make sure you are using the 2012 version, it took effect for EVERYBODY on Jan. 1. Rememeber that NFPA 70E implementation is NOT tied to delayed NFPA 70 (NEC) adoption by your local state codes, it is enforced separately and immediately. There were a number of "gotcha" changes in the 2012 version that are catching people by surprise.