0👍
Assuming that pVariable is more of a pVariable type, drop the reference to product_fk. It would mean that you need a new entry in that table for every Product record. Maybe try something like this:
Product(id, active, allow_new)
pVariable_type(id, name)
pVariable_data(id, product_fk, pvariable_fk, non_typed_value, bool, int, etc)
I would use the non_typed_value as your text value, and (unless you are keeping streams) write a record into that field along with the typed value. It will mean keeping the value of a record twice (and more of a pain on updates etc) but it will make querying easier, along with reporting (anything you just need to display the value for).
Note: it would also be idea to pull anything that is common to all products and put them in the product table. For example all products will most likely have a name, suggested price, etc.
2👍
This model is called a database in a database and is not nice. Though sometimes it is impossible first check whether you really need it and your database is really the right database for the job.
With PostgreSQL you could use: http://www.postgresql.org/docs/8.4/static/hstore.html which is a standardized solution for this kind of issues.
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