I fired my friend's 709 to try out, and it convinced me to purchase one of my own. Taurus has become very good at making guns that consumers want to purchase in terms of features, function and price point. The 709 is a matter of setting your expectations to meet your necessity. That means if you are looking for a relatively cheap, functional pistol that is easy to conceal and carry, then the PT709 is for you. It combines a lot of features of a Glock with the addition of a manual safety. It beats most pocket pistols in that it can fire +P 9mm rounds, and chambers about anything without many misfires.
The problems that I have found include:
1. Difficult recoil due to the light weight and corresponding follow up shots
2. Difficulty in weapon take down and assembly (this would like be fixed with more practice)
3. Lack of capability to purchase additional magazines. I like to have more mags for the range whether I would ever carry them or not
4. Lack of choice in weapon specific holsters; be patient, and they will appear
What I like:
1. Price: I picked mine up for $350 (which is the standard Academy price), but expect to pay more in the $370-$440 at most private guns shops.
2. Function: I am familiar with Taurus products and service, and they are hard to beat since Taurus is a responsive manufacturer.
3. Ability to Carry: I usually carry a Ruger LCP in the summer. The PT709 give me an option for when I wear shorts and a tshirt in something larger than a .380. It doesn't print due to its 'slim' size.
4. Function: The PT709 can hold 7+1 rounds, and cycles about anything I have put through it (including Winchester FMJ & JHP, Golden Sabers, Hydrashock HST JHP, and Remington UMC FMJ).
I will admit that accuracy is not match grade, but once again I am not taking it to a match. I have found that it fits well in a Uncle Mikes pocket holster size 16.
tried Wal-Mart 115 Fed fmj and some 115 jhp reloads and still no jams whatsoever. Accuracy was around 2.5 in @ 10 yards for most loads when I really did my part but firing as soon as I had a sight picture I got about 5 in. I have a PF9 also and trigger is better, IMHO, on the 'Slim' than the PF9, Here's some pics comparing a few different pistols I have for CCW. 
