S&W has released a version of the PPK/S. It is licensed under contract by Walther. It is essentially the same as was produced in Germany, but the tang, or beavertail has been added and it's made from stainless steel. Two things Walther has never done with the PP series. The PPK has yet to be produced or released by S&W.
I'm too much of a traditionalist to buy one of the S&W licensed models. I could barely bring myself to buy an Interarms PPK and PPK/S when they were still making them, but at least they looked closer to the real thing than the S&W product. And I hate to say it, but the machinework was a #### sight better too. I've examined several of the S&W products. Angles are off, corners are uneven, lines are not straight, and symetry is off looking at the front and the rear end of the pistol.
If I were Walther Germany I would be embarassed to have my name on this pistol.
Granted, the new beavertail is great for folks with large paws, but, there are other Walther models for larger-handed folks.