I own a P40 & carry it regularly. It works for me & I'm confident in it.
$205 is a good deal, IMO.
I bought it nearly new. I think the previous owner had fired a mag of .40S&W, said, "Whoa, nelly" & sold it.
It started off a drama queen, stovepiping a lot. Sent it back to the factory & they polished up the feed ramp. Fo rnothing. Even paid shipping. Now it has been 100% reliable with Federal 165gr Hydra Shoks & a few others. It seems to LOVE Wolf trash. It must be a freak. Some bullet shape don't work well in my P40.
Recoil...yes. A buddy of mine uses his S&W 640 w/ 125gr .357 mags as his "average" recoil gun. He says my P40 is "above average in recoil." A 14oz gun shooting .40S&W is an object lesson in Newton's Third Law.
Areas to watch:
FEED RAMP. If you can trust youself with a Dremel, polish it up. Be careful & search the net for some hints (
www.ktog.org is a good place to start).
MAGAZINES. Some of the lots of mags were not quite right. I think the were intended for the P11 9mm. A quick bend on the feed lips does the trick, or send 'em to Kel-Tec. Replace mag springs with Wolff +10% springs at any hint of mag probs to nip it in the bud.
The P40, like sushi, is not to everyone's taste. If you are not recoil-sensitive it may be just the ticket (no offense meant here...folks just don't shoot guns that are above a cetrain recoil threshold very well...that threshold is different in all of us...I won't be buying any S&W Scandium .357 snubbies anytime soon.).
Oh, I forgot to mention that I've shot IDPA with it. I wasn't gonna break any records, but the felt recoil was not noticable in the middle of competition.