I had a friend who had one (back in my college days, lo those many years ago). I remember it had a horrible trigger, but somehow it was astonishingly accurate. Like the most accurate .380 I'd seen (not a giant feat - sorta like being the best ballerina in Lubbock) at that time. I recall 1" 5-shot benchrested groups at 50', which seems hard for me to believe now, but I'm pretty sure that's what it would do. Maybe it was a fluke. Don't remember a thing about reliability.
Anyway, funny you should mention them: I looked one over at a gun store this weekend and was pretty impressed with the finish and quality of machining. I think my friend's was a wartime piece, and it wasn't much to look at. I really liked the one I looked at this weekend (I wouldn't mind owning one at all), but I don't need a .380 and this one was pretty seriously overpriced in my estimation. I could use a pocket gun, but this was heavier than my Glock 33, with not nearly the oomph.
Tom, if you pick the 1934 up, let us know how you like it!