Hogue makes a slip on grip that eases the LCP's recoil pain. You can also order Wolff recoil springs in 11-13# to smooth up its snappiness.
My LCP was reliable out of the box, but 200-300 rounds later it was even better. I had two stovepipes, in the first 50, I lubed it to hell with TW-25B and replaced the recoil spring with a 12# and it has been smooth since.
I don't know what its long-term reliability is. Others disagree with me, but all of the teeny little guns (TCP, LCP, LCR, Bodyguard, Nano) look and feel cheap and fragile when compared to my P290.