I like the .380, but then I like most guns.
I've got a Sig P232, which is a very high quality .380 ACP which is a bit big for pocket carry.
I shoot my P229 much better than the P232. I actually didn't think the P232 was very accurate until I saw my wife shoot it.
As an NRA Basic Pistol instructor, I can say that I've seen a number of students shoot the cheaper .380's. From what I've seen in terms of shot placement, I really can't recommend them.
So, in principle, I think that the .380 is an OK self-defense gun, certainly it is a lot better than being unarmed. On the other hand, there are a lot of people who don't shoot them as well as necessary in a self-defense situation. My wife can keep all her shots in a baseball sized group with the Sig P232, but I haven't seen anyone do that with the cheaper .380's. Just about every student I've had can shoot pretty well with a P229.
Michael Courtney