I've never had any experience with the Tomcat, so I can't say anything good or bad about them.
I CAN say that I love my little P32. It's gone EVERYWHERE with me from the day I got it. Going out on the weekend? Sure, stick it in the oversized watch pocket on carpenter-sytyle jeans. Business meetings? No prob, slips right in the front pocket on all my slacks and dockers. Shorts? Use the front pocket or behind your wallet.
The little spitwad is, IMHO, the best combination of minimum size/maximum firepower. Compare it to a Jennings 22, a Raven 25, Davis/Lorcin 32, NAA Guardians, Seecamps, Autaugas. The P-32 is lighter, thinner, and holds more rounds of a more potent caliber. The locked breech "may" cut down on recoil, but I will admit that my P-32 can be pretty snappy with hot loads and a one-handed grip.
However, the most important thing to me is reliability, and I've put almost 700 rounds of Fiochhi through it, along with 50+ rounds of various self-defense hollowpoints and it hasn't jammed or failed to fire ONCE. Not even with Cor-Bon stuff, which is supposed to be a regular jammer in P-32s.
I have mine in hard chrome, which seems to be the best choice for everyday carry. In all honesty, it's some of the best money I've ever spent for a gun, and it's a great deep-cover piece by itself or backing up my Glock 19.
NOW, WHAT I DON'T LIKE
*No, not even with the innovative design, I don't think it's worth 250-300$. 200$ max seems like a good price - heck, the new "super duper" HS2000 cost just as much, and is three times the gun the P-32 is, material wise.
*The trigger is light, but loooong and inconsistent from gun to gun. There's definitely room for improvement.
*The sights SUCK SUCK SUCK! I don't even bother trying to use them anymore. I've gotten much better results by just covering the target with the back of the slide, or point shooting. However, once you get the hang of it, you can group pretty well if you use both hands in a modified Weaver.
*Why in the name of God they made the recoil spring/guide rod retainer a separate piece of the slide I'll never know. If you lose that piece, good night Irene.
Those are my thought on the P-32.
AL