Everyone loves to PK at the Mod Tower, but I strongly recommend everyone Pking at the castle. If you truly enjoy Pking I think you will have better success Pking at the Castle.
Usually the guild that holds the Castle, most of their members are AFK, and even if they're not AFK they're noobs, so it will be easy kills, and easy to increase your stats if that's what you're going for.
Tips for Castle:
USE MOUNT You don't need arrows and bombs, so I recommend keeping mount ready to go. If you are killed inside the flag room, using the mount will help you get back to flag room quicker. I've actually timed how long it takes to get inside flag room of castle compared to getting in flag room at mod. It is a little quicker at castle if you are using mount. One of the reasons many people pk at mod is because they believe it's quicker to get to flag room, this is not true if you are using mount.
Last Life Try to exit flag room when you are on your last life. Let them kill you in the hall instead. If you are killed in the hall then it sends you to another room in castle that is a shorter distance then having to start from outside. Plus you can still use your mount from this room, so it shortens the time even more.
USE BOMBS The reason you should use bombs, is because the leader of the guild that dwells in castle always tells his members to surround flag. So if you have a bunch of players surround the flag, you're going to hit a lot of them with the bomb and increase your kill count quickly.
attack outside of castle If you are trying to take the castle with your guild, bfm will send a lot of them members to block the door facing away from the door. What I recommend doing in this situation is sending one of your members outside of the castle and behind the door. Have this member shoot arrows at the players blocking the door. It will be very easy kills, and a good way to increase yoru PKs.
So this is just a few reasons on why the castle is best place to PK. Feel free to add to this thread.