The Five seveN (thanks for the correct capitalization, Raven :) )is similar to the Steyr M series in that it is definitely futuristic looking. A current issue of a gun mag in Safeway has an article on the pistol. I think the bullet weight is around 40 grains. Raven's right about the velocity. I think it's in the 2100 fps range. It has an extremely long taper and I think this was to aid penetration on woven ballistic armor.
.224 BOZ still seems like a better idea, but I haven't heard squat about it for a long time.
Speaking about armor-piercing projectiles, I'd be curious to see what sort of penetration an cutting edged 800 grain arrow at 220 fps would have on a KTW plate vest combo. Any hobbyist's out there with experience????
None of this flat-shooting pistol cartridge stuff is very new. Apart from the CZ52 and the Tok, Colt Industries had a project called the SCAMP in the late 60s, which used a bottleneck .22 cartridge in a large pistol that had select fire. I think it even had a muzzle brake.