Russ, I do not own one (nor would I) but I have handled several of Kel-tec's other models. I have been around firearms my whole life, it is a passion of mine, and I can tell you just from observation of the design, materials, and QC in the Kel-tec line that it does not meet MY standards of what I want to defend MY life with.
I'll shoot cans with you all day long with one though!

If you want to see a cheaper light semi-auto (though not in .223) that I would stand behind Here ya go:
The Beretta CX4 Storm
9mm
.40 S&W
.45 ACP

(make mine a 40 S&W)

http://www.cx4storm.com/