If your desires are for a CCW, check out the thread here titled '642 Club Part Deux'. Without a doubt, the S&W 642 is a fine choice for a CCW. Mine is in my pocket (Had to go get it - I just changed pants!) as I type. I bought a LNIB 642-2 several years ago - to go with a Mika pocket holster. It supplanted my 296 (Similar looking but larger 5-shot .44 Special.) in a Mika holster as my EDC. As the 296 only carried well in 75% of my britches, and the 642 carried well in all of them, I became a 100% 'carry' person.
BTW, I hope your experience with the KelTec is better than my b-i-l's - which mirrored most of my experiences as a public range RO several years ago. They were not very dependable. When my wife wanted a jean's pocket protector, I sold some a gun, etc, to fund her new Seecamp .32. Whatever you choose to carry, you should have the skills to use it and the faith that it will function reliably in an emergency.
The 642 is +P rated - even if you aren't. BTW, mild 148gr full wadcutters will reliably ventillate internal organs, even if they won't shatter a pelvis. The +P Speer 135gr Gold Dots are well received while my choice, the venerable 'FBI Load', like the Remington R38S12 158gr LHPSWC +P, is a well-documented stopper from a snubby. Remember - it must be carried to be effective. It doesn't have to be really comfortable, either - it's intended use is to save your bacon.
Now, if you want a plinker... get a 617 (.22 LR rimfire)!! I finally did last September. It really is just about as much fun plinking with it as my .38-.44-.45 revolvers - and a lot more frugal to plink with - and I reload!
Stainz
PS New 642/442 revolvers seem to run $420-$450 around here.