I hope this doesn't get posted twice. My first attempt failed, I think.
Today I went to the range with my brothers for our regular centerfire pistol and revolver session. All of us are retired cops. The youngest, George, said he had brought some gallon water jugs to see what my NAA .22M would do, knowing I always carry it. He suggested I shoot at one jug, figuring the little cartridge would be stopped by that. I told him I needed at least 3 jugs, which he had. He placed them in a cardboard box and I fired from about 2 feet. The cartridge was a CCI 40 grain hp. It penetrated the box and all three jugs and exited to parts unknown. That's as much penetration as we had earlier observed with 9mm and .45acp.
However, the jugs were not blown apart. They showed only .22 size entry and exit holes.
I had 4 cartridges left in the gun. Fired them at the box turned sideways from about 10 yards. All of 'em hit the box, but not within any parameters that might be termed a "group".
Conclusion? I will continue to carry it. I will always try to have a "regular" gun with me, but when nothing else is at hand, I like the .22 Magnum. Put it in your pocket like you do your pocket knife. It weighs less than the day to day knives I carry. It's 5 shots of lethality when you have nothing else.