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Just got back from the range with my new LCP. First impressions are great.
PROS:
1) Definitely easy to conceal. The main reason I bought this gun is for front pocket concealment when the weather will not permit a OWB carry of my Glock.
2) Well made gun, feels better than the KelTec.
3) I had no FTF or FTE failures the first time out with FMJ and HP rounds
4) Does not recoil as much as I would have thought, definitely less than my wifes S&W 462 .38 SPL +P
5) Accuracy was great at 10 yds. I had no problem getting a good group at this distance. I didn't bother targeting any further, because what's the point?
CONS:
1) To properly chamber a round, at least when the gun is new, you need to pull the slide back hard. At first, I was getting jams when cycling unfired rounds through the gun. This stopped after I realized that I wasn't pulling the slide back hard enough. I assume this is a mixture of a tight gun and tight magazines.
2) The gun is touchy with ejecting unfired rounds, this was with PMC FMJ ammo. It seems like the ejector port is just big enough for an unfired round to eject. I had a couple get stuck unless the gun was facing down. I had zero FTE issues while actually firing though. I could see that being an issue if I have a FTF issue in a self defense situation. I haven't noticed the same problem with HP rounds although, which makes sense since the overall length of the round is smaller.
3) You absolutely need a laser with this gun. I bought it with Crimson Trace laser. As others have mentioned, the factory iron sites are completely useless even in good lighting.