either 'paul-maul', or 'pal-mal' (with pal said pretty much like the dog food)

Just realised I didn't clarify - the English (as far as I'm aware) never use any pronunciation other than Pal Mal (with the "a" as in apple).

It's yet another of those odd English (English) pronunciations that helps us tell locals from invaders within the time it takes to say a sentence.
Sussex (where I live) is absolutely full of place names like that.

I'd therefore recommend that none of you say Paul Maul when you're in England or playing English (English) Monopoly - unless you're doing an intentional wind-up.

Weren't there "Pall Mall" cigarettes once upon a time?