Nice little gun - however, $450 sounds overpriced to me.
It is a delayed blowback, the same as a 1911. That is: during recoil the rear of the barrel drops down and unlocks from the slide.
As a result, the recoil is tame compared to a straight blowback .380 such as a Walther PPK (which is pretty sharp). Also as a result, it doesn’t seem to be as accurate as a Walther (which has a fixed barrel).
It’s reasonably reliable, but seems to be a bit ammo sensitive.
The slide lock has a reputation for sliding out of disengagement during firing. In an extreme instance of this, the pistol could actually disassemble itself. An aftermarket locking slide lock is available.
For this and other Colt .380 parts and services, see:
www.colt380.com/ .
For that price, I’d prefer a Beretta, Sig or Walther. IMHO they’re all better made guns.