I'm sorry I'm confused; I see that you're talking about this gun and talking about going into the wildnerness. But later posts indicate something of a self-defense standpoint regarding the gun.
For varmit hunting the .22 has more than proved it's point. You also make a perfectly valid point about the ammo and it's definitely worth looking into. My concerns would only be the short barrel length interfering with accuracy and possibly the weight of the gun being so light it absorbs little recoil (though that's hardly a concern with a 22.
Obviously if it shoots well enough, then no big deal. I'd just rather have a gun with 5 rounds that hits consistently vs one that has 100 that can't hit anything.
From a self defense standpoint it's 50/50. Knife fighting range for a LEO as of current is 21 feet. Tests basically concluded that it a person wielding a knife can get to cutting distance of a person with a gun in the time or before the time they have a chance to draw and fire it.
It has been discovered (and I'm not a LEO btw) that this at times can be woefully inadequate. Knives cause huge injury upon impact and massive shock with even a minor hit. That being said, so can a gun. What is my point?
The gun you carry would be difficult to draw, unfold, and fire in a time in which someone with a knife could close on you and assault you.
As to damage capacity there are plenty of deaths every year with shootings involving the 22. Here are a few just to emphasize the point.
http://www.wltx.com/news/story.aspx?storyid=45837http://www.allbusiness.com/government/3628046-1.htmlhttp://www.findarticles.com/p/articles/mi_qn4186/is_20050706/ai_n14723188Anyways so I'm not disputing the round but rather simply the range involved (if it's not accurate to 21 ft you may want to consider something else) and the ease of drawing, unfolding and firing a weapon under duress.
Just my two cents!
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