This handgun is one of the best of the small pistols. It does more damage than any other non-energy pistol, and fires .223 FMJ rounds, which have the best DR modifier and second-best AC modifier of any ammunition. The only downside is the low ammunition capacity, a paltry 5 rounds. Even 14mm pistols and .44 revolvers hold more ammunition. Still, with .223 a common caliber and the damage on the .223 pistol being astronomical, it's easily one of the best weapons in the game.
When this weapon was carried over from Fallout 1 into 2, the developers neglected to change the description. While in the first game this was indeed a one-of-a-kind weapon, several of them can be found throughout the game in Fallout 2, making the description a bit ironic.
The .223 pistol, despite being labeled as a pistol, uses sub-machine gun animations. This prevents certain characters, like John Cassidy or Vic, from using it, but allows others like Sulik and Katja to do so.
This pistol's appearance is modelled exactly after Deckard's handgun in Blade Runner, right down to its double triggers and red LEDs.
The .223 pistol was planned to be included in S.T.A.L.K.E.R.: Clear Sky as an easter egg, along with the Bozar and generic .223 ammunition, but only remains partially implemented in the game's resources.