I'm not in LE, but have both a Colt Mustang and KelTec P32. I've owned the Colt for years, just picked up the P32 a few weeks ago.
The Mustang is a sweet little piece. I have the Pocketlite; with a SS slide & alloy frame it truly is an easy gun to carry. You do have to be comfortable with a single action auto though. In a simple Uncle Mike's Pocket holster, it will hide in the front pocket of a pair of Dockers at least until you sit down - depending on how tight the pants are & your build will determine if it will print then. In the hot summer months, it is a constant companion. Colt does not make the Mustang anymore, you'll have to locate old stock or buy used.
The KelTec was an impulse buy, as used the price was right. This little gun is a true featherweight, and the trigger action is similar to that of the Glock where the rearward movement of the slide partially loads the hammer and leaves a shorter, lighter pull for the trigger. This is a true back-up gun - smaller than the Mustang, no sights (to speak of) and 7+1 rounds of .32ACP; KelTec does sell a mag extension that increases the capacity of the factory supplied Mec-Gar by 1 round & allows for a full 2 fingers on the grip. It is available with a blued, parkerized, or hard chrome slide finish & multiple color options on the poly grip frame.
I'd definetly feel better armed with the .380ACP load of the Mustang, although capacity is only 6+1. The KelTec will hide better - I think you can even buy a neck holster for it. Best to carry only FMJ in the P32; there is a condition referred to as "Rim Lock" where HP rounds can slip forward in the mag & the rims of the cartridges can engage each other in such a way as to lock up the mag. Supposedly, this does not occur with longer & fatter FMJ loads.