Solid gun. Admittedly-heavy and, as you've observed, limited capacity, but in terms of compactness, quality, accuracy, a usable trigger and speed-to-employ, I would still say "yes" -- absolutely a viable gun. Even nearly 40 years after it's introduction, it still offers some interesting capabilities that other guns simply do not.
Any P7 represents something of a strongly-flavored and unusual choice these days, given all else that is available, and you need to be careful about investing in the right carry rig because of the weight distribution (short slide, butt-heavy), but again, I wouldn't dismiss the idea out of hand.
After owning virtually every M-variant made, I actually came to prefer the original P7 (what is usually called the PSP in the US market) over time, and although mine no longer sees much first-line/carry service these days, it remains a quiet favorite.
Lots to like about these old staple guns, even today. Parts when needed, can be obtained, but there generally isn't a lot to worry about there, as these are extremely high-quality pistols.
Ultimately, if you are confident in, and competent with, the P7, then there is no wrong answer to the EDC question. "Having a gun" in the first place is really the only relevant factor there. Do your part, and it will perform every bit as well as, or better than, any other.
AC
Stand your ground; don't fire unless fired upon, but if they mean to have a war, let it begin here. -- Captain John Parker, Lexington, 1775.
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