I have been extremely happy with mine. The only problem I have had was damage caused by some extremely shitty aftermarket mags that damaged the mag catch. Kel-Tec replaced it quickly and with no questions asked - even after I explained it was my fault and offered to pay for it all.
Otherwise, it is minuite of pie plate at 100 yards with white box 9mm and has been very reliable. As for optics, IIRC, there is a laser site available that mounts under the barrel and still allows it to fold.
If you only want it for the fun factor, I think it will soundly fit the bill, and is capable of much more.
Breakdown and cleaning is pretty simple and straightforward.
One thing I did notice when shooting side by each with my bother (who also has one) is that the Winny White Box 9mm ammo is hotter than the UMC 9mm ammo. Both were 115 gr FMJ bought from Wally World. The UMC would severly dent some hardened aluminum plates, but the WWB would punch through it.
ETA: One problem I have with it is powder gasses coming from the ejection port. I'm a lefty, and sometimes I kind of blade myself to the target and hold the rifle at an angle. This puts my face a little close to the ejection port, causing some discomfort. It doesn't happen when I make sure I hold the rifle straight out front, and wouldn't be a problem for a rightie in any case.
-K