The 1903 has an excellent reputation as a self-defense weapon - I've been looking for one for a while to add to my collection of pocket pistols and that price is certainly one of the lower prices I've seen.
You can check the Colt Autos homepage for more detailed info:
http://www.coltautos.com
I find them to be reliable and accurate little handguns.
Ken Strayhorn
Hillsborough NC