It's a steel frame. It's actually heavier than the full size 75B in .40. All the extra weight is at the muzzle end, which makes this gun handle the "snappiness" of the .40 quite well. It also has the upswept beavertail, which makes it more comfortable for long shooting sessions, as well. It uses 10 round magazines (P06 mags will work) or 12 round full size .40 magazines will work with a spacer.
At $430, I'd buy it. My sister bought one for $375 about 5 years ago, and I wish I would have bought it instead.
If you DO buy it, you will most likely want to install an extra power extractor spring. Weak extraction is why 90% of these get traded in.