Demo does make a very good point here guys. The whole concept behind a sub-compact gun is that it is small enough and light enough to carry with you at ALL times. Lets not forget the first rule of any gunfight - Have a Gun!
Is the .380ACP round ever going to match a .45ACP? No. But then again we are not likely to see a manageable .45ACP thats the same size as the new generation of pocket pistols. Even a gun such as the Kahr PM40 offers a very small frame in a larger caliber but the recoil is pretty stiff. So for those people who can't afford to carry a gun the size that a larger caliber gun some of these .380ACP subcompact semi-auto's fit the bill very well.
For those who argue that the .380 ins't manageable in such a small sized frame (often citing the polymer LCP or Kel-tec), you likely have not shot a gun such as the Sig P238. I can tell you from direct experience (owning 2 of them) that the recoil of a P238 is very manageable (almost negligible). It is not hard at all to get consistent combat accurate shots quickly on target using this particular handgun. Understand that Im not saying that the P238 is a perfect gun without flaws (it is an SAO trigger with a manual safety for example). I'm just stating the fact that there are very small .380ACP pistols out there that are controllable and accurate and fill a very useful place in the concealed carry and personal defense market.
If you are interested in reading more about the P238, there are many posts about its trials, tribulations, and successes as well as a product review at http://www.armstalk.com.
I wouldn't be quite so quick to dismiss the .380ACP cartridge. The sheer number of manufacturers making these guns and the consistent shortage of .380ACP ammo in the market are indicators that many people are fond of them.