can't seem to decide between these two, both seem to be fine pistols. any input from owners appreciated!

If I had to choose between the 2 I would go with the PPK because I like the traditional mag release.  The 232 has a european mag release which is awkward for me.

Some Walthers have issues with reliability...not all...but if you go with one make sure it works with your carry ammo. I would go with the Sig even though it is a bit "bulkier" because it is lighter and because I much prefer the decock to a more traditional safety / decock design...and because Walthers chew my hands up as well. But I am really not a big fan of the .380.

I purchased a 230 for my wife about six or seven years ago.  The info I gathered at the time had the 230 head and shoulders above the Walther. The 230 shoots very well for a small pistol but chews on my large hands some at the web.  No others that have shot it have this problem.   I personally have never fired a Walther so take it for what it's worth.  If it were me I would pass on them both and buy a Kahr 9mm or baby glock.  

I had a Walther PPK/S ...beautiful weapon... It was made before S&W ruined them. I wish I had never sold it. I only had a failure to feed with it on one occasion but determined it was a magazine issue and fixed it on the spot. It was a pleasure to shoot and the Hornady XTP Ammo penetrates well.

I have not used the Sig so I cannot form an opinion on it.

MT

Look at a Kahr PM9 1st before you buy either...

I've owned all three (Sig P232, Walther PPK/S, and Kahr PM9).  I had reliability issues with the Walther.  The Kahr ran fine, it was just not fun to shoot.  Too small for my hands.  I didn't enjoy shooting it so I didn't shoot well with it.  I shoot the Sig well, it's never had a hitch, and it conceals well in a pocket or IWB holster.  IMHO the Sig is the King of 380's.  I do have a HK P2000SK in 9mm I'll be picking up on Thursday.  I'll give a full report.....

I carry, in the summer, a 1976 made PPK/S. Made in W. Germany.

Very reliable and I love it.

I've put about 1200 rounds through my Interarms PPK without incident. I rounded off the bottom corner of the slide, which was razor sharp from the factory. This fall I'm going to send it to Cylinder & Slide for some tritium sights and a carry bevel package.

For me, the PPK has been an exceptionally compact but still reliable and accurate arm. I think you could conceal a PPK in settings that would be iffy for the 232, if that is important to you.

The SIG is a fine shooting gun, but is somewhat large for the caliber, and has the slower Euro style mag release. I wouldn't mind having one just to have one, but there are a lot of similarly sized guns available with more power.  

I love my Sig P232.  It aint the best for deep concealment - that handle is kinda big, especially with the extension on the magazine, and the hogue grips I added - but it handles and shoots as well as a full-sized pistol, and eats anything you feed it.  If I need deeper concelament, I have a Kel-tec P3AT - whihc is nowhere near the same LEAGUE as the sig.

None of the above. Try a Bersa Thunder 380, it is a great gun at a bargain price. I have nice Maks, a Walther PP, and a Sig P230 but what do I carry? When I carry a small pistol it is mostly my Bersa Thunder 380. I gave $175 for my used Bersa and it is a gem. Regards, Richard:D

I have never owned either, but a former roommate had the PPK and my piano teacher has the P230.  So I have fondled 'n fired both weapons to an appreciable degree.

On that basis, my next concealed carry weapon will be a Sig (P230 or P232--I'm not sure I care which).  I have no reason to denegrate the PPK, but I will explain my preference for the Sig.  

It boils down to this: the design of the PPK slide is "quite pointy in parts."

To work the slide, some people point a handgun upward with their strong hand and grip the rear end of the slide between the thumb and curled forefinger of the weak hand, then pull the slide in a downward motion.  Call me an untrained rebel, but I'm not the biggest guy in the world, and I have another technique that is faster and more reliable for me.  I hold the firearm in my right (strong) hand, then place the palm of my left hand over the rear of the slide, usually right on top of the sights.  (Were I to extend my left thumb all the way, it would point at my right elbow and also indicate the direction the slide is about to travel).  This way, I can grip the slide quite securely between all four fingers and the heel of my hand--being careful, on smaller guns, not to cover the ejection port.  The slide can then be worked more quickly and forcefully than in the other method by virtue of the enhanced grip, and comes under the pressure of bigger, more commonly used muscles.  (Eeesh...spacial relations put tough demands on langauge!)  Anyway, if you can imagine this motion, you may understand why the Sig is a little nicer than the PPK for me.  It seems that the sight profile on the Sig, as well as the absence of the safety lever make for a less toothy slide, more painlessly compatible with my slide operation method.

I don't plan on changing my slide-working technique, so the next question is this: Would consciousness of a toothy slide cause hesitation in a defensive situation?  I don't know, and I don't plan on finding out.  Still, I will choose the weapon that minimizes this risk: the Sig.

Good topic!

...Oh...+1 on the Hogue grips!