I'll weigh in in favor of the Keltec P32. I've had mine a month, practiced with it twice, and am now thinking of it as "the little back-up gun that COULD." One caveat, though: after reading up on it, before I ever fired it, I field-stripped it and hand-sandpapered downt the feedramp (with 120 grit, then 400 grit), cleaned it thoroughy and oiled it. It was kind of dirty inside for a new gun, but at $199 I couldn't complain.
It's my back-up gun to my Glock 30, and if I'm running, or hiking, or riding my bike, it's my primary gun.
I was impressed by it's accuracy--the sights do work, and it is fairly accurate. However, I spent most of my practice treating it as "point and shoot" gun, since if I have to pull out a back-up gun, it's likely to be a VERY close range thing, I think! I put a box of Winchester Silvertips through it, and two boxes of MagTech. I only experienced two jams, and they were not during firing, they were when I attempted to rack the slide. Since I carry it loaded and cocked in a leather Don Hume pocket holster, I don't see that as a big problem (i.e., slide is racked before it's carried.) I do practice drawing it out a LOT.
I've read some comments about people wanting to carry a lighter, lower-caliber gun in the summer, since it's hot. I would strongly discourage that, given everything I've read about most crime occuring in the summer!