Rob, I own both, and several other Hi Powers. My OPINION is, mechanically the FEG guns are pretty good, just not finished quite as well as the FN or Brownings.
Here's some info from the book of combat pistols:
http://world.guns.ru/handguns/hg130-e.htm
P9M and FP9 pistols are made by Hungarian FEG company (originally known as Fegyver es Gazkeszuelekgyara NV, now FEGARMY Arms factory, Ltd.). These pistols were also exported under designations of PJK-9HP. In Europe, FEG FP9 guns were also marketed under the name of Mauser, as the Mauser 80SA pistols. The only difference between the P9M and FP9 is the ventilated rib at the top of the slide on FP9, otherwise guns are identical. The P9M is almost exact copy of the famous Belgian High Power (also known as HP or GP-35) pistol. In fact, GP-35 and P9M are so similar that many parts are interchangeable between them. These pistols were not used as a service guns in the Hungary, and were intended for export. Some guns were used by the Lithuanian police, and probably these guns were used somewhere else.
I also have FM Hi Powers, in short and long versions, that were made in Argentina, on original Browning machines. I like them, particularly the "detective model", which is a slightly shorter barrel than the REAL P35 Hi Power.
The biggest problem with these guns, as far as a self defense gun, is the trigger. They are kind of rough, but then so is the original Browning, except for some models that have work done on the triggers, like the "T" series from 1968 which is thought of as the pinnacle of production.
Mike LaRocca in Worcester does a fine job of cleaning up the triggers, and you end up with a very nice gun for less money than an original Browning.
HOWEVER. if I could own just one, it would be the Belgium made FN Hi-Power, Model 35, series "T" that I mentioned. it is beautiful , dependable, and used world wide by many special groups.
