I have both a Bulgie and an IJ-70 in 9x18. Both are quite surprisingly accurate and about as reliable as gravity. Build quality is pretty much a toss-up, IMO. At least it is on mine.
The major difference is the big, rather clunky looking adjustable rear sight on the Baikal. IIRC, it was slapped on to add "Import points", being commercial production rather than surplus. The almost invisible (in bright light) front nub of a sight is the same as on the Bulgie. As was mentioned, Makarov.com offers a fixed replacement rear that's less fragile and more snag resistant for the IJ-70s for CCW.
As a tight budget SD/HD/CCW piece it has few, if any, peers in its price range IMO. It is rugged, dependable, well-made of real steel, accurate and chambered for a cartridge that is both relatively inexpensive and easy to get. Hornady and Cor-Bon make premium defensive loads for it that are tailored to extract the maximum performance from its available energy.