Mike,
I understand that you are very luckly. As I understand it, the PPK Walther models were outlawed for import here some time ago. I believe S&W picked up on the manufacture in the States at some later point. I seen a couple of PPK's in an indoor shooting range, both were gold plated and went for about $1500. apeice and really nice looking. I agree that relibility is extreamly important especially in self defense, but I have not heard of any problems with the Colt either.
The comparision that I read which was done by professional trainers, showed the colt pocketlites were the best of the 5 or 6 .380's tested which included the PPK. However, it did not say whether the PPK tested was a Walther or S&W. I think I remember that it was the less recoil that put both colts above the PPK. I think a number of factors were taken into account in this test: relibility, recoil, accuracy.