Yes, like any other handgun now. At first it wasn't, but because only the FMJ armor piercing 5.7mm FMJ was available. now there is soft point civvy legal 5.7mm ammo which takes away the armor piercing capability to a large degree, the FMJ 5.7mm cartridges are still LE only. Kind of silly, IMHO since the AR15 with FMJ M855 will do the same thing, but oh well you know how it is. The 10 round mags are also now available rather than only the LEO 20 rounders, this was the other thing that made it LEO before.
The weapon is less useful with softpoint, since it was designed as a body armor defeating solution to be used with FMJ for LE and it is very good at that, being very small caliber and very high velocity. However, on a soft target, it just punches small perforating holes, much less effective for personal or home defense. The soft point makes it a bit better for soft targets, but not as good as .40, .45 or even 9mm on unarmored targets. it is a very specialized pistol, so I would like one, but only as a curiousity, not for personal defense. The Five-Seven was really meant as a companion weapon to the 5.7mm FN P90 Submachinegun which has been used effectively in the HRT/anti-terrorist role in taking down terrorists who had seized the Japanese embassy in Peru several years ago. It proved to be quite effective in taking out these body-armor equipped perpetrators.
It would no doubt have been useful to the LAPD in the North Hollywood shootout.