I guess that makes me one of the few europeans here who can actually have contribute to this discussion, since I am fortunate enough to live in the one european country that still has (fairly) liberal gun laws (Switzerland).
For target shooting, my personal favorite is the SIG 210. I got myself one (a former army sidearm, forged in 1953); it's wonderfully accurate and a real pleasure to shoot (no wonder these pistols are called the "rolls-royce of 9mm weapons"). I had some nice wood grips added, the gun fits my hand very well and I usually get very good marks on a 50m range with it. Although this gun is single-action only and much older than the current service model (the 220 which I have as my personal service sidearm), I much prefer it over the more recent model for match shooting (and this even though the 220 is already considered a very accurate weapon).
For pure pleasure shooting, I love the Desert Eagle 44mag. I 'd like to try out a .50AE, but they are very hard to come by over here, and the ammo is rare and darn expensive. Plus, I'm not sure I can even hold a mighty 50, although I have little problem with the 44.
Now, for personal defense. Luckily, not such a big issue here, as yet. Still, our laws only permit the sale and posession of FMJ rounds (including the cops, although there is considerable debate about this). For this reason, for personal defense, I guess a .45 might not be such a bad choice, since even a 45 FMJ supposedly has pretty good stopping power? Or should I go for a 40S&W?