If you guys are all a little confused about what to put in your PS then don't worry. The LE Dept knows that you'll be applying for completely different things elsewhere. If you want to know exactly what papers you'll have the chance to do, here's a list (you may have this already, I don't know).
For the record, I'm a 3rd year Land Economist at Pembroke, and I got aaab/AAA (I re-sat the b and got an a eventually).
Paper 1: Economics
Paper 2: Public law
Paper 3: Accounting and data evaluation
Paper 4: Land, environment and structural change
Paper 5: Environmental economics, law and policy
Paper 6: Fundamentals of finance and investment
Paper 7: Regional economics
Paper 8: Law of real property: principles, policy and economic implications
Paper 9: Private law
Paper 10: The built environment
Paper 11: Land and Urban Economics
Paper 12: Law and Economics
Paper 13: Landlord and tenant law
Paper 14: Planning law and policy
Paper 15: Advanced techniques in finance and investment for real estate
Paper 16: Agriculture, forestry and rural development
Paper 17: Land policy and development economics
First year you do 1-4, then you choose five papers in 2nd year, then four more and a dissertation in 3rd year. Hope that gives a flavour.