Hello
Getting in late but my two cents: I have two .32s, one the Kel-Tec and one a Beretta Tomcat. The Tomcat was originally for my wife's purse, but the weight was an issue so she hijacked by BUG and I have the Tomcat.
Our Kel-Tec has the extended magazine and still would fit comfortably in a pocket holster, is not a bear to practice with (max of 5-7 yards is what I use with the smaller caliber), and light to carry around.
Plus, the Kel-Tec is inexpensive, easy to work on/clean (Kel-Tec forum has a good section on smoothing them up a bit if you are so inclined), and reliable. I have not had one issue with it. One note, it does not like hollow points with the standard magazine.
Oh, and I agree with you and the others - I think the caliber is an issue if shooting thru something like auto glass, etc, but up close and personal, maybe not so much.
Good luck with your search.
Barry