Until someone slaps me, I claim PPK/S Forumite Expert title. I'm a long time owner of an Interarms Walther PPK/S in 9mm kurz and a huge proponent of this outstanding pistol.
First of all, the PPK/S (that's "S") most certainly does have a full, modern firing pin block. The needle you see protruding just above the hammer is not the firing pin, it is an "indicator pin." A very handy animal that tells you at a glance (or by running your finger over it in the dark) whether or not a round is chambered.
Secondly, you'll find this among the most accurate pistols in the world. It truly is made to a higher standard and the Walther genius shows. See below my set of lazy shots at a 10 inch paper plate from 25 yards (not 25 feet!). This gun will put bullets precisely where you aim them, every time.
And finally, the one drawback that I've had in mine was an initial lack of reliability. The PPK/S is indeed finicky about ammo, so don't load it up with cheap junk. I had the feed ramp polished and sent it back to the factory for a faulty extractor before it was as reliable as I expected. It's still not quite as reliable as my Makarov's, but then Russian guns will shoot marbles if you can fit them into the mag.
When you shop for hollow point ammo, consider Remington or Speer. Remember that the PPK/S is based on an 80 year old design, meaning that it was intended for use with ball ammunition. Remington and Speer HP ammo tends to have a smaller opening in the nose with a more rounded profile, which helps a gun of this type.
It is an excellent backup to your larger calibers, or those times when your clothing doesn't allow you to pack heavy. If needed, it will certainly get the job done with a one-shot stop ratio of just under 80%... not bad at all for a small caliber gun. The 9mm Lugar shoots about 1000 fps, while the 9mm kurz/.380 shoots around 875 fps.
Buy a PPK/S and you will be very glad you did. You'll soon realize why this pistol has set the standard for small caliber weapons for 8 decades.
