I had a crusade for about 25 five years and perhaps 300 or more Walthers; to find one that would shoot straight and reliably. My first, a .32 PPK German was the best. The Walther is a good investment IF you buy it at the bottom of one of it's cycles. Since I began collecting them in '69 they have fluctuated up and down from 200 to 900 to 400 to 800 to now about 300 to 400 in most areas for one of the PP series.
The Makarov has the largest two problems of the Walther beat. It feeds the cartridge almost straight in from the top of the magazine into the feed ramp and chamber. The Walther tries to make the cartridge jump way up at a steep angle into the chamber and somehow make it across the feed ramp. Sometimes it makes it. The Makarov also allows you to fill the magazine while the Walther is a LOT happier if you only load the magazine to two less or three less than full capacity.
For whatever reason, of course, the Makarov is far superior in accuracy also. So the main reasons to have the Makarov instead of the Walther are just these: Accuracy, reliability, capacity and power. I think that some day, when the millions of Makarovs stored in Communist arsenals are all sold, that the price will go back up and stay there. There are so many of them here in this country now that we are assured of ammo availability as long as we are allowed to have ammo.
I no longer have any Walthers; I have obtained the holy grail of my Walther Crusade and it is the Makarov -- the only Walther worth owning in PP style as far as I'm concerned. But the Walthers sure are puuuuuuuurrrrrdy!