I had an Interarms import West German PPKS in .380acp. Had some feeding issues with certain JHP. Sold it many years later. In my experience the S&W version isn't the same quality as W. German build.
My choice for an all steel pocket carry .380 would be a DDR (East German) or Bulgarian 9X18 Makarov. It's pretty much a PPK copy with more steam out the pipe and is very reliable.
As always, YMMV!
If Obama is the answer, then how stupid was the question?