The way I understand it is this:
If the procedure turn is in BOLD line.
1. If ATC vectors me onto the final approach course, I don't have to
do the procedure turn. (Note I say final approach course, I can be
outside the FAF).
2. Otherwise, I have to do the procedure turn.

If the procedure turn is not bold lined, then its optional.

But frankly, if I were the controller, I'd space other aircraft so the
pilot could do it either way, unless you are vectoring him past the
FAF. You never know when some pilot will decide he has to do the
procedure turn if you cut him loose outside the FAF.

As a pilot I see ABSOLUTELY no COMMON SENSE in having to make a course
reversal if I don't have to loose altitude and am on the final
approach course (or even within a few degrees of final approach
course) outside of the FAF. I mean, why do it? It takes time, burns
fuel, and increases risk.

I'm probably wrong somewhere on all this, but heck, I bet a lot of
other pilots are too.

It doesn't really come up very often.