I also picked up one of the PM9's for more discreet concealed carry in the Texas heat. Recoil is manageable, but I found that without a Pearce grip extension on the short magazine, I was unable to get accurate double taps due to the gun shifting. The grip extension doesn't detract from concealability in my case, and some good 'ol practice improved my groups. I'm not as accurate as with my 1911, but the PM9 is a lot easier to conceal while wearing shorts!
I second NCCop's advice on break in. I ran 300 rounds of Winchester ball ammo through it before carrying. I had no failures with that or any other ammo, but the gun was noticably smoother in handling and function after break in. I've also had good accuracy and no failures with the Federal HydraShock JHP that is currently loaded in it.
Another note: When disassembling the pistol the first few times, expect to find the slide release lever to be very reluctant to push out of the frame. I had to use a piece of scrap plastic to push the pin through. Also, pay attention to the manual: it contains disassembly instructions for the "K" series pistols in the manual, preceding the instructions for the "T, P and PM" series. Be sure you are reading the right section! After the break in period you will find that breaking it down for cleaning becomes much easier.
I'm very happy with this little gun, and once I get some tritium sights on it, I think it will be just ideal. Okay, I'll shut up now. Have fun shooting it!