I used to have really bad PF to the point where I could not put any weight at all on my heels when I first got up and had to use a wheelchair to get around in the mornings. I found a stretch like this one was the best. Also has some good research into it.
http://www.urmc.rochester.edu/news/story/index.cfm?id=1275I don't do it exactly like that - I do a two handed version that I find easier but I can't find a picture of it anywhere on the net so I may have invented it. Also a cortisone shot in the heels helped. It says in the article to do it to the count of 10 and then repeat it 10 times. I was told by a physio that its now thought to be better to hold each stretch for much longer (up to a minute or two) and do less repetitions.