I have a PA-63,which is a PP clone made in Hungary and chambered in 9x18 makarov,which is a bit more powerful than .380 and has good penetration in standard ball format.
The PA is no where near as refined as the 'real thing' tho.
The PP,or Police Pistol, has been copied all over Europe and in the Eastern Bloc especially-like the Polish P-64 'Radom',which is pretty much a Walther PPK.
The Makarov proper -the actual Pistolet Makarov- or PM,was inspired by the Walther PP.So the 'family tree' of the basic design has successful off-springs and clones much like John Brownings timeless designs.
They do say mimicry is the sincerest form of flattery.
I've heard that some of the older Walthers have issues feeding hollowpoint ammo,but my only actual experience with this is my PA-63,its magazine doesnt like wide ogive hollow points.I feed it ball anyway,as I dont really trust JHP to have adequate penetration in these calibers.
Walther PP series pistols are fine guns and much to the contrary of those that believe that the newer composite framed pocket guns that can hold more rounds and/or chamber something 'bigger' are 'better',I believe they represent an elegant and time proven design that the 'new' stuff just doesn't hold a candle to.