If you're getting too much distortion, very likely you're not mixing it correctly, or in the right proportion, or for the right amount of time. One important step that just about everyone forgets is to READ THE INSTRUCTIONS. All temporary materials will give you an acceptable temporary, with some only slightly better than others.
Now, to answer your question the way you want to hear it. Luxatemp is a great temporary material. It's strong, esthetic, easy to trim, and comes in a mixing cartridge. Downside is that it's very expensive. I use SmartTemp from Parkell. It's like Luxatemp in that it comes in a cartridge, but not as nice. But it gets the job done.
Some important points to consider when making temporaries.
1. The more well-defined your crown prep, the better your margins are to read in the temporary.
2. Take a bite registration using a rigid impression material. Then take a diamond bur and grind 0.5-1mm off the cervical portion of the tooth all the way around it. This gives your temporary bulk in the cervical area. You'll trim off the excess later, but it helps to prevent cracking thin temps.
3. Use a timer. Seriously. Use a timer. Material handling characteristics are very time dependent.
4. Make sure to wash the acrylic off the tooth before impressing with PVS. The acrylic will affect the setting of the PVS. If you use Alumium Chloride (e.g. Viscostat), also make sure that is washed off very well.