I've had a P32 for about a year and a P40 for about 10 months, both bought used from people who couldn't make them work right. I don't know what their problem with the P32 was, I cleaned and lubed it and it's been 100% with any ammo, including CorBon hollowpoints. I've got about 300 rounds through it, mostly FMJ ,but about 50 hollowpoints. It's in my pocket with a spare mag whenever I have pants on.
The P40 was owned by a guy who was a new shooter, it was his first gun and he hated it. In fact, he told me it was a "bad gun" and didn't want to accept the full price for it. We haggled, him talking me down and me wanting to give him what I won it for at auction. He claimed he fired 100 rounds through it. With a good cleaning and lubing it went through 100 rounds with one FTF and a couple of times it locked back with one round in the mag. It was also bouncing empties off my forehead now and again. I did the F&B and Kel-Tec sent me some new ejectors and some other replacement parts. Siince I did the F&B and replaced the ejector the gun has not had a single failure in the last few hundred rounds of WWB ammo. I've also shot the CorBon Powrball hollow points with no problems.
I think that improper cleaning and lubrication and some limp wristing was the problem with the P32, and I think limp wristing and fear was the problem with the P40. Make no mistake, while the P32 is a pussycat, the P40 is a real tiger, the blast and recoil is just too much for most inexperienced shooters. Even for someone like me who's used to heavy recoil, 50 rounds through the P40 will have the muscles in my hand jumping and shaking.
I've put grip tape on both my Kel-Tecs, the black stuff that's like 80 grit sandpaper and it makes a real difference with cycling on the Kel-Tecs for people who can't, or won't, put a decent grip on their guns. I've known several people who were having problems with Kel-Tecs and other small guns and applying the grip tape made a difference for them as far as reliablility is concerned. It also makes it darn hard to lose your grip.