That is likely true but PSA sells all it can make as far as I can tell. They start at around $700 and I know for a fact that the company donated two highly engraved ones to the Dallas Safari Club auction held this past weekend. Gold inlay, probably ivory or some kind of "natural" stocks, etc. Nobody will ever shoot them. I'd say MSRP for the pair was close to $7000.

So, in this case, although developing a "new, high quality forged steel .25" is unlikely, one already exists - the PSA Baby Browning is exactly that, a high quality, forged steel .25 caliber pistol. They also come in aluminum or maybe some other lightweight alloys.

As I noted elsewhere, as far as I am aware, they sell plenty in Europe. I am not sure why.