Yep, like mr. e and Walt, have one and like it a lot!
Reliability-wise, given the apparent QC standards on .22 ammo, I don't know that 100% is realistically acheivable (and like mr. e also said, it's not that big a deal with a range gun). I've had misfires, too, but there's always a nice dent in the rim. If a second try won't set it off, I blame the cartridge, heave it downrange manually, and move on... Typically bring at least 300 rds. to a range session and would estimate pitching a dud only happens every third-to-fifth visit. I've tried a box or two of everything I could get my hands on at the gun shows (with the exception of the powderless Aguila Colibris -- no sense *begging* for a squib round), and while some of the subsonics won't reliably cycle the slide, they all make it to the target. Many Whatever's-at-Wallyworld bricks have fired and functioned just fine.
Accuracy is in the 'better than I can shoot' category. I use the Kadet to dispatch those little 'extra' dots that come on the sticker sheets of Shoot-n-C targets.
The sights are clear, and it comes with a Mec-Gar fully adjustable rear. (I got the same sight for the 9mm slide from CDNN, so this is ideal -- same trigger, controls, and even same sight picture in either caliber!)
Paid about $250 for mine a year ago from the local store -- didn't really shop around, as I had a much more lucrative job at the time...
They've shown up for less on CZForum (great bunch of folks over there -- especially the respected and esteemed Mr. Sherrill! -- and lots of goodies in the Kadet Klub). The kit came with two mags and some rudimentary cleaning tools, which in my case have been fine (mags) and tossed (tools).
SDC: I've no experience with .40s, but you might search or post over at CZForum -- quite likely somebody's done it, or tried, and would share their findings...
Good luck getting your own, antsi, and enjoy!