More years ago than I'll admit to, I had a Walther PPK in .380 just because it was Sean Connery's "James Bond" gun.
It was a reliably functioning pistol and fairly accurate at short range, but it was obvious it didn't hit very hard. I'd rate it very good for the caliber, but over all not particularly effective (because of the chambering), to answer the question.
If you are set on a .380 (and can find one), an old PPK is a pretty good pistol.
I sold it pretty quickly, and took a number of side trips into other chamberings (38 special, 9mm, .40, 10mm, .375mag, 44 mag, etc) in both wheel and semi autos.
Though I have had (and still own) several other handguns, in recent years I have gone back to my origins and have several 1911s in .45acp.
If you've never been in a fire fight, statistics say you should get a weapon with a lot of firepower (a 17 shot 9mm is the choice of the military and most PDs). If you've been shot at and had to shoot back (and know how to shoot), a 7 + 1 .45 is hard to beat.
I'll caveat that by saying that if you learned to shoot with a wheel gun or an ugly (non 1911) semi (joke), that's probably what you should stick with. In a gunfight muscle memory trumps all.
Just one man's opinion from personal experience.