Well, I remember using one to hunt for a murderer in the Santa Cruz woods. Easy to carry, and, minute of bad guy accurate. Did I mention it easily fit in a backpack, with no questions asked.
I hated the Cobray closed bolt 9mm, and, the 45 was a bit heavy.
The .380 version was much lighter, with the cobray shoulder rig, was concealable, sort of, and could spray a lot of bullets quickly.
The 45 acp made a nice home defense gun, but, wouldn't feed anything but ball. However, you did have 32 shots, which was nice.
Frankly, without the class 3 toys, silencers, extending stocks, and full auto bolts, I don't see much appeal. Not a gun that's fun to shoot at the range. I do remember shooting it in the woods, and, with a great big flash suppressor, you could see your bullet zip out, go through an 9 inch tree, or sapling, and keep trucking.
The main appeal of the open bolt models is you could easily clean the weapon, you could take it under water, shake it out, and use it. In other words, it was a very simple durable, full auto machine gun, for about 300 bucks. Perfect for seals, or others doing close quarters combat work, with military ammuntion. You could match the 45 version with your Sig Sauer carry piece, and have ammo for either avaliable. For survivalists, you could have the gun, stash the silencer parts, and the machine gun bolt, and, if the stuff ever hit the fan, have a silenced full auto machine gun for survivalist type stuff.
Perhaps the best reason to own one is the same logic that people used for .44 mags, Walther PPKS, or others. A movie star you liked had one, like in Three Days of the Condor, and you just had to have one...
Frankly, the fear of 10 years, and what was the fine, 100,000 dollars, for being caught with a silenced, full auto weapon sort of took the fun out of having that kind of stuff.
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