I had a PT-111, bought it based on what I read in the magazines and what I thought I needed. Turned out, the mag fell out every 3rd shot. Tried a different mag, same deal. Not sure if it was the way I held the gun (bad mag release position in my opinion) or it has a problem with the mag release spring or whatever. Sure, could have sent it back to Taurus and I'm sure they would have taken care of it - instead I traded it when I got a Kimber. Also didn't like the trigger pull, balance didn't feel quite right, little things, and all are unique to each individual's preference...
I have to mention everyone else I've talked to said their PT was great. No problems, they like the pistols, so maybe it was just me.
Also, I paid about $220 for mine at a gun show, so you might want to shop somewhere else.
-Dave