I have one - it's a great complement to my 84FS. I took it to the range yesterday and scored sub-2-inch groups at 15 yards, both strong and weak handed. As for ammo, I've used CCI, Fiocchi, Federal, Remington and Winchester. The only ammo it ever had a problem with was the Remington. I normally use CCI Mini-mags, though.
The 87 Cheetah is a great little .22 pistol, and elegant to boot!