I don't think a P1 would be good for IPSC. I have never known anyone to use a P-38 for IPSC, but that might be due to the 1911 supremacy that most IPSC competitors cite. I don't know how the "power factor" calculation is being done these days, but 9mm in a P1 is just going to be less than .45 in a 1911. P1s have a history of frame cracking because of the unreinforced aluminum alloy frame, if shot a lot, which presumably you'd have to do if you're going to compete. If you want a P-38 pistol, you'd be better off with a good condition steel P-38 or a P-4 (aluminum, but reinforced), but keep in mind that the design was for a combat pistol that would have relatively little use. It was designed almost thirty years after the 1911 and is just a much lighter sidearm. Also, the lack of a slide that extends to the end of the barrel makes the gun a little "whippy" and requires more concentration on grip at the time of firing. If your interest in IPSC is casual, then a steel P-38 would be fun to shoot. It's certainly an effective combat pistol, but was never designed to carry the stress of the amount of shooting modern competition requires.