I've only fired the LCP. Didn't even consider a gun like this until Ruger made one. No offense to Kel Tec owners, but every time I picked up a P3AT (before LCP came out) I grimaced. They just seem "cheap". But as most have said, that is mainly just fit and finish and plenty of folks carry them and swear by them. I know nothing of the TCP. Just saw my first one today at a gun show. Very similar size. But might as well keep your gun dollars in an American company like Ruger or Kel Tec, right?
(this coming from a guy who owns 2 Austrian guns and a German gun
)
Also, don't let size envy or caliber wars scare you off either. Not everyone can walk around all day in untucked shirts or wearing a suit coat and never taking it off. There are other ways to conceal a larger gun on your belt or in a shoulder holster, fanny pack, etc. But there will ALWAYS be a time when those methods just wont' work and being able to slip something into your pocket is better than nothing.
I would also advise you to look into a snub-nose revolver as a pocket-carry alternative. Taurus snubs can often be had in your price range and they have a good reputation. But that's a personal choice about what gun works for you.
And eventually you should get something larger to go with a pocket gun for times when you can carry something larger. But I see nothing wrong with a pocket gun as your first gun if that's what you can carry and what you can afford. A modern .380 pocket gun firing modern .380 ammo (Hornady Critical Defense is the answer to the FMJ vs. JHP question in my personal LCP) is a huge improvement over similar sized true pocket guns available just 10 or 15 years ago - mainly .22 or .25 semi-autos with a few .32s mixed in. The smallest .380 in those days was still the 75-year-old Walther PPK design, or maybe an AMT backup or Colt Mustang (all fairly similar in size). The P3AT, LCP, TCP, and a few others have brought the LARGER .380 round into a true pocket gun size once only availabe in much smaller, weaker loads.
And remember, in the very first James Bond movie "Dr. No" he is given the much "larger and more lethal" Walther PPK .380 to replace his Beretta .32 - so if a .380 is good enough for 007 ...
Would I take my LCP if I KNEW I was going into a gun fight? Of course not. I wouldn't take ANY pistol. I'd take a rifle or shotgun. And I only carry my LCP as a last resort if my dress does not allow for carrying any of my other guns. If I have to wear a tucked in shirt, no jacket, and no "fanny pack" or other such concealment device, I have two options:
a) carry a larger gun in a "tuckable" inside the waistband holster
b) carry a pocket gun
The pocket gun often wins out in these scenarios. The tuckable holster, while wonderful for carrying a larger gun all day with tucked shirts, takes a while to put on and is a pain to put back on in public if you have to disarm in a car for some reason (walking into a school, post office, whatever). Plus I can draw from my pocket MUCH faster than I can draw from a tucked holster. In fact, there are some tactical advantages to pocket carry. If you perceive a threat, but it's not yet "go time", you can just casually place your hand in your pocket and on the grip of your pocket gun, ready to draw if need be (can't do that with a belt holster, shoulder holster etc.)
Anyway, you've got some great advise and varied opinions here. Just didn't want you to totally dismiss pocket guns, believe me there is nothing "fake" about pocket guns. And anyone who says they are "fake" or "toys" should offer to be shot with one to prove how ineffectual they are.