I am a big fan of the Walther PPK/S in stainless steel. Beautiful with some mother of pearl or pearlite grips. Of course you're talking about 600.00 there. Then if you want a suppressor youd have to have a custom barrel done probably another 300. Then your paperwork for 200.00 and then buying the actual suppressor. So that's a bit too much IMO.
I'm looking at the carry alternative, the Bersa Thunder .380
Concealed Carry Edition.
http://www.gunblast.com/Bersa_380CC.htm
By the way, it is Walther, not Walter.