I bought one for my wife last year for X-mas. Gun shoots good, and it got my wife into shooting every weekend with me. However, I have found that P22 is particular on ammo. Winchester and Federal bulk pack will not cycle well, Remington Bulk pack (golden bullet) work good but with a few FTF's (DON'T use Remington "Thunderbolt" ammo. It leads the barrel something terrible). Overall, CCI "Mini-Mag" HP's, and "Stinger" work the best. The Mini-Mags are about $5.50/100 @ Wal-Mart, and the Stingers run about $5.75/50.
It is a fun little .22, and with proper ammo it will be great shooting. Hope this helps.
I purchased one about 2 months ago.. Ran some CCI stingers through first, no problems... then some old Winchester Wildcats that I had around, the hit the Federal bulk.. total of about 500 rounds in the first outing. I did not have any FTE's or FTF's until the last few mags. I presume that the failures were due to the weapon being dirty, or my son (8 yo) would have kept on firing.
Go to rimfirecentral.com and there is a Walther forum.. Download the P22 Bible and review the mods that some of the guys there have done which improve many of the problems with the cycling, and possible wear to the slide.
Get one, for the price it is an excellent and fun little plinker.
I purchased it at the nearest Gander Mountain. Christmas Special for $249. I wish it was as easy to find gifts for others as it is for myself. The recoil spring is a serious PITA for someone used to Glocks but I did manage to get it back together.
I bought a like new one a couple of months ago and have had no problems with it. So far it has eaten every brand of ammo I've run through it without a hitch. Cheap bulk remington and federal, all the way up to the high dollar match ammo. It even cycles with Aguilla Sniper Subsonic ammo. However, don't expect too much as far as accuracy is concerned, it wasn't made to be a target pistol.
I had one and liked it but I had the same problem as Gholcomb with the ammo. I would have worked with it, but I have been selling off some of my smaller caliber handguns lately; and the missus likes her 9mm so no reason to hang on to them anymore.