From The TimeSplitters Wiki

The Pistol is a standard, run-of-the-mill weapon. It's not very powerful but when aimed at the head it is extremely effective in taking out enemies stealthily.

Tips

During FP's Story mode, you will only have it on two levels, "The Russian Connection" and "The Khallos Express". The first of these levels allows you to use the attatchable silencer to get through part of the level undetected. It's best to keep some distance when doing this, since the silencer also has a small scope giving you more accuracy from range.

During an arcade match however, you won't get many chances to sneak up on people. This means that your enemy will be firing back at you and you should keep moving to avoid getting hit so much. Head shots will deal extra damage, so it's best to try to get as many as you can. If you get close enough, the melee attack is quick enough to be useful in dealing quick damage.