I've shot a friend's older PT22. With it's favored ammo, it's 100% reliable. I ran Winchester dynapoints through it an experienced the ocasional failure to fire (always fired on second strike though). It was, however, very reliable in ejection and feeding. At 10yds, it would group a full mag into about 2".
I'd own one as a plinker. I think it would be fun to use against soda cans at camp.
That said, I really like the idea of a DA/SA trigger like the Beretta. That seems a bit more useful for "fun" shooting, but it's about $50 more expensive around here.
Chris