I can't say enough about my P-32. It hasn't jammed or misfired once since I bought it. It shoots softer than a Jennings JT-22 I had *blush* and the hard chrome is easy to clean. I can shoot it pretty well (with regular practice), and a talented shooting buddy of mine can make it work wonders at ungodly distances for a mousegun. At under 10 ounces fully loaded with one in the pipe, it stays in the watch pocket of my jeans or shorts and goes everywhere with me. It's hard to remember you have it on you most of the time! When I can't carry my Glock 19, the P-32 "elephant gun" goes with me.
A friend of mine got a blued P-11 around Christmas. Since then, he's put about 500 rounds through it and it has had ONE jam - the second shot of the first magazine fired through it. I did a trigger job on it for him, which I found here on the internet, and it REALLY smoothed up the trigger. He can hang with me and my Glock out to about 15 yards, even though the barrel on his P-11 is shorter and the trigger is harder to manage.
Either one is a great gun. The P-32 is practically invisible as a carry gun, and the P-11 packs the maximum amount of post-ban 9mm firepower in the smallest available package. They both take some initial practice to break in and get used to, but with about 150 practice rounds and a good "fluff and buff" they're really hard to beat as carry pieces. The prices on them are really good too, if you can find a dealer who isn't out to stick it to you.
One last thing - if you can find one, get the P-32 FIRST. The P-11s are pretty easy to find or order, but it took me 6 months and a transfer from Minnesota to put a hard-chromed P-32 in my hands. None of my local dealers (about 10 or 11 of them) were able to get ONE P-32 in ANY finish from any of their distributors. If you find one, BUY IT. If you can nitpick between available finishes, get the hard-chrome models. The price difference should only be about 20$ higher than the blued models, and the hard chrome finish is pretty much rustproof. They look a lot better too, IMHO, contrasting with the black grips. If you can't find a chrome model and you end up getting a blued model, you can exchange the blued slide for a chromed one directly from Kel-Tec for 20$.
Hope all my long-winded advice helps!
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Glock 19
S&W 629 Classic
KelTec P32
"Oh yeah? Well I talk LOOOUDLY! And I carry a BIIIGGER stick! And I'll use it, too." -Yoesemite Sam