The 1934 Beretta is another steel slab of a swiss watch, they are .380acp (9mm Corto) though. Army wanted a "large caliber" so the Italian Airforce got the 1935 in .32acp basically the same design to the point were post war commercial versions of the 1934 now labeled by their cat name were offered in .32acp as I understand it rather than keeping both guns in production.
As I understand the 1934 was not importable under GCA '68 and I think that had more to do with its demise than heavy obsolescence.
When I was a kid paying a youth discount to get into the movies the Usher/Janitor had a Beretta that looked like a 34 or 35 that he claimed was in .22LR, and nickeled, incase someone got too rowdy and the 1934 has looked cool to me every since. As I became a teen I came to hate and loath his flash light more than I loved that pistol though..... "Hey, back row!"
-kBob