Bought my Interarms-made PPK .380 nearly 10 years ago. Probably put 2,000 to 2,500 rounds through it.
With my lead bullet reloads, it occasionally jams when it gets dirty, but not with jacketed bullets (provided the ammo is good quality).
I have a cousin who put 8,000 rounds through his Interarms PPK in about two years. Like me, he occasionally experienced a jam with his lead loads, but not with jacketed.
After 8,000 rounds, he reported to me that a piece of something fell off. I was unclear what it was. He took it to a gunsmith, who declared it safe to fire. He stopped firing it because it lost its fine accuracy after so many rounds.
My PPK remains accurate, allowing me to place all rounds in a paper plate at 25 yards, standing upright and shooting with two hands. Those who don't think that's that's good shooting with a PPK need to try it sometime -- the short sighting distance (and my 55-year-old eyes) present challenges not found in full-sized guns.
The PPK is my carry gun. I believe in absolute reliability and penetration, especially in the winter when people wear heavy coats and multiple layers. I stuff it with Fiocchi 95 gr. FMJ cartridges. I like Fiocchi; it tends to be a little more powerful than the American stuff (though I understand that Fiocchi ammo marketed in the U.S. is now made in Missouri).
Raider:
My PPK also wears an MMC adjustable sight. Bought it off Ebay about 8 years ago, for $100 as I recall. I too recall Skeeter Skelton writing about it on his PPK. I also seem to recall he had soft rubber, Pachmayr grips on his. Never have been able to find rubber grips for the PPK; they're always made for the PPK/S, which won't work.
Love my MMC sight. It's small, doesn't add sharp corners or bulk, and has never lost its zero since I set it years ago.
The Walther PPK has a proven track record going back nearly 80 years. It works, and works well.
I didn't buy it because I wanted to be Agent Gatofeo, I bought it because I wanted a gun that went BANG every time the trigger was pulled, without fail. Loaded with jacketed bullet ammo, it does that.
