I hadn't heard about it until you mentioned it. I found some info at KT's site.
KT's small guns probably wouldn't make that great of paperweights as they count the weight in ounces. You will hear all kinds of garbage about any inexpensive gun out there.
In KT's FAQs they list an expected service life of 6000rds. Also, all of their guns have a lifetime warranty but that is limited to the original purchaser.
Now I wouldn't use one for a range gun but they will last longer than several hundred rounds. I used to have a P32 (1st gen, pre-dated the 380's release) and I know I put over four hundred rounds through mine (I even broke the thing in with 200rds the first day). I traded it as I decided that I wanted a bigger gun if I ever needed it. In the little things defense will say that as long as it was reasonably clean, it was reliable. After a box to a box and a half of ammo it began to get cranky.
Here's another perspective, if KT's guns are crap, why are they what all the other micro carry guns compared to?