The below is my "initial-impression/range report" from June of 2011, regarding my just-acquired Kel-Tec P32. It includes my reasoning for choosing it over the P3-AT.
Due to the somewhat increasing frequency of occasions in which belt carrying of my PF-9 is not practical, I've decided to get a pocket-carry-capable piece. After much thought, I settled on the KT-P32. Though I considered the P-3AT, I went with this one for the following reason: less snappy (the recoil of my early Grendel P-10, and of my PF-9 push my abilities for quick re-acquisition for follow-up shots), the presence of a slide-lock, and the addition of one round in capacity. Also, in a pinch, my wife, a markedly diminutive lady, could be armed with it.
Today, I headed to an all-day-pay outdoor range with this gun, my other two carry guns (PF-9 and Bersa Thunder 380), and ammunition. For the P-32, I had only 100 rounds of WWB 71-grain FMJ-FN ammo (the last two WM had in stock.)
I arrived to find the range closed for a special event, and went instead to an hourly-pay indoor range. Because of the time constraints there, I was now not going to shoot the other guns I also had brought along (two revolvers, and two .22LR autos.)
Once posted on the line, I loaded up the new KT, and ran a casual-fire session on a silhouette target at a range of 21 feet (7 yards.)
I found the P-32 to be not entirely without snappish-ness, but it is easily handled. I might have had more issue with it at the outdoor range, as temperatures were well north of ninety degrees,a nd my hands would have been quite sweaty. I could feel the grip on this little scale-tickler wanting to work upward in my hand from time to time.
About half my shooting was done with one hand. I actually found that to be fairly easy to keep on target, something that I previously had a harder time with on my PF-9. All my rounds were easy to keep in an area suitable for defensive use during offhand fire, about the size of my closed fist if I tried, and the size of my open hand if I didn't.
I had one case of rimlock. This occurred at probably the 24th round or so (into the fourth magazine.) I've never experienced this before so, of course, the TRB drill didn't work. I removed the magazine, and still could not push the round forward. After manipulating the round downward some, and giving the magazine some firm slaps in my hand, the round was able to be freed. I shot out the rest of the mag, reloaded that round into it, chambered it, and fired it without further issue. The remainder of the session was finished without any other malfunctions.
I fired a total of 92 rounds, keeping eight left left over for carry use until I can stop back in somewhere and get a more suitable round. I was amazed at how fast I went through them. After searching here for "rimlock", I will likely go with a hot FMJ load such as the Fiocchi, or maybe a S&B one.
I found the gun to be quite a little delight to shoot, kind of reminding me of my old Jennings J-22 in handling, though I haven't shot that thing in maybe two decades. I had no trouble fully re-setting the trigger (never did on my PF-9, either), even in rapid-fire. I can see this piece being a viable carry option as a pocket-holster gun, and I do already have a PH for it. As with many new Kel-Tec pieces, it has some little burrs and other marks of "unfinishedness" about it, but nothing that hampered function or carry. My PF-9 is much more "finished", but I'm not the original owner of that, so someone may have done a F&B on it before.
Incidentally, I switched to the PF-9 after shooting the new P-32. The PF-9 is remarkably small but, after spending time with its little sister, it feels like a service weapon, filling my hand and actually showing some heft it was never known to possess before. I also learned during the session that I can actually shoot this thing better than I thought I could. The last two times I shot the 9, I was at the outdoor range, with sweat running into my eyes and all over my hands, and just didn't feel I did as well, coming away with the impression that this is not a "range-time" piece. Not anymore. I really enjoyed it today, even one-handed shooting (something I'd not done before with it.) Rapid-fire, one-handed shooting was even more than just manageable.
So, that's that. The PF-9 will remain my first carry gun. It has done so since I proofed it more than a year ago when I got it, being on me pretty much any time I am out of bed. But, I am pleased that the P-32 will make an exceptional second option for "shirt-tucked-in" occasions, and maybe even as a BUG or "NY-reload" when the PF-9 is carried, such as during my once-per-week pizza delivery job.
I will source another magazine for it, though, as that is the fastest way to alleviate a rimlock situation (something I plan to insure doesn't happen again.)