I've got 2. One is a Walther PPK pre-war .32 that some knucklehead had refinished (ratherly badly, I must say), thereby turning it into a shooter. The other is an early '90s production Interarms Walther PPK/s in stainless. My PPK/s finally smoothed out and started running properly just recently (to be fair, I only recently passed the requisite 500 round breakin point). This pistol bites me rather badly. I have scars on my hand from where the razorsharp back of the slide caught my hand (this problem is likely solved since S&W introduced a beavertail on the back of the frame). The gun is accurate, fully capable of producing one inch groups at 25 feet (probably longer, but what's the point?). Recoil is a bit more snappy than a comparatively sized locked breach 9mm (remember, the Walther is a straight blowback). Sights are quite adequate for defensive use, but rather poor for the range, with a rather generous rear sight cut that allows for quick acquisition but rather poor precision. I imagine these guns would be fun that would last 100, maybe 200 rounds on a given range day, but fun plinkers, they are not.
My .32 is far more pleasant to shoot than my .380 and every bit as accurate, if not more, than my PPK/s.
Quality? Yes, although workmanship is clearly superior on my nearly 70 year old example vs. my 13 year old. I'll not tell you not to get it, but there are better choices.
Frankly, home defense would be better suited by a midsized 9mm or .40 or a good medium frame .38 or .357 revolver (S&W 10,13,19,65,66, or 686 - all of which are much more pleasant to shoot, with .38s, and are a time honored choice for defensive purposes). You might also try a CZ75. Or, if you really like .380s, try a Beretta 84F or 85F. Operating system is different and felt recoil is much less. Actually pleasant to shoot. Prices on all of these generally do not exceed the cost of a Walther.