I was finally able to get my PPQ M2 out to my gun club today and ... one word: wow. I was expecting to be impressed, but not expecting to have my mind blown by the ergonomics, trigger group and accuracy. I've heard talk about how they dislike the recoil. It was nothing I was surprised by considering it has only a four inch barrel. A good, tight clam-shell grip takes care of it. I would say that the recoil is what one would expect from any light-weight polymer handgun with a 4" barrel.
At any rate, here are the results of my first shooting session with it: