I have a Walther (Interarms) PPK in .380. I got it used for $350 and have put about 400 rounds through it without a hiccup. It has not cut my hand and the recoil is okay.
The big advantage of the gun is its concealability - it is very flat, about 0.8 inches thick throughout, and has a short grip (2 fingers on grip with pinky tucked under. I have carried it when nothing bigger works. The best carry I have found is a Bianchi suede IWB holster, which adds virtually no thickness to the gun.
I admit that the stopping power of .380 is marginal. I use Hydrashok 90 grain hollowpoints, which have 1000 fps velocity and 200 ft-lbs of energy. Marshall gives them a 69% OSS. The gun holds 6+1, and has a heavy DA pull, but a good SA pull. I actually prefer it to a J-frame .38 because it gives you 2 more shots and slightly better stopping power.