Ok, first off, I've never shot a hi-point, so I will not make any comments with regard to accuracy or recoil. I will say, however, that at 50 feet, and with enough practice, I expect to be able to shoot a ragged hole of a group, if not offhand, then most certainly from the bench.
I have, however, handled these firearms on a number of occassions.
My opinion?
Not for me.
If I was strapped for cash, and absolutely had to buy a low-cost handgun, I'd go with a TT-33, CZ-52, Makarov, or PA-63 before I'd buy a hi-point.
They do handle and point about like a brick, though being a connoisseur of polymer handguns, the fact that the pistol is top-heavy doesn't bother me quite so much.
I did find the trigger pull to be pretty, well, ugh, and was, much like Ceol Mohr, struck by the fact that the thing seemed to go 'creeeeeeeaaakk...PING!' when dry fired.
For home defense, I suppose it'd be an ok choice if you couldn't find anything else in the price range.
For CCW, gawd. The thing is basically a metal brick necessitated by the fact that it operates on a straight blow-back operating principle. Seems kinda inefficient to me. *shrugs shoulders* But that's probably just the gun snob in me coming out.
I suppose what this post comes down to is this:
I wouldn't buy or use one, but if it works for you, and makes you happy, go for it (within reason of the safety caveats posted above.)