I picked up the Ruger LCP yesterday, and have messed around with it a bit now:
My initial impressions of it are quite favorable so far - I've run several magazines of 10 different .380 ACP loads through it, and all fed just fine. I have about 250 rounds through it so far. (Why do I have 10 different types of ammo on-hand, you ask? From trying to get a balky Walther PPK dialed in...)
It's about the same size as a Walther TPH, but lighter, and more powerful. It fits in the pocket just fine, and there are a variety of pocket holsters for it available, either generic "small auto" ones, or custom-made ones. It doesn't need much special, I'm using a DeSantis Nemesis for it, which is just about right for my needs. Most Keltec P3AT holsters should work fine, by some strange coincidence...
The sights are dreadful, bordering upon useless if you attempt to use them in the normal manner. I'm going to put some sort of white paint on the front one, and call it a day, this is not a long-distance weapon.
The trigger is about 8 pounds, has a long revolver-like pull, and has some jerky bits during its travel. The final break is very crisp and clean however. The combination of the primitive sights, the size of the weapon, and the trigger make this very much a close-range weapon for me. By comparison, I can print decent groups at 25 yards with the Walter TPH, Walther PPK, or SIG P232, whereas I was getting 6" groups with the LCP. Some part of this is likely an interaction between it being a new gun, the short sight radius, and my new bifocals :-)
It only comes with one magazine, and they don't seem to be really shipping spare magazines yet in any volume.
By comparison to all the other pocket/mouse guns I experiment with: J-frame, PPK, SIG P232, Walther PPS, Walther TPH, Glock 26 - this one is a quantum level smaller - it hides in your pocket with almost no sign or feeling that it is there. It feels more like having a Spyderco Endura in your pocket than a gun. This is truly a toss-in-your-pocket pistol, and gives you 7 shots of .380 ACP ready to go. The main downside for me compared to the others is that it will not be as useful at longer ranges - the Walther TPH, for instance, I'd be perfectly happy carrying hiking as a kit gun for rabbit/squirrel action, this Ruger is much more limited. It also cannot be fired from within the pocket with nearly as good a result as the J-frame.
The LCP has removed any lingering desire I have to pick up a Seecamp or Rohrbaugh - this is small enough for my deep-concealment desires, costs < $300, and seems very reliable and unfussy so far.
If you need/want something very small and concealable, and can accept a .380 ACP, it's well worth checking this little fellow out.