According to the Walther reps at NRA Annual Meetings, the 5 inch PPQ should be available by the end of the year, but could be delayed until 2014. At the time I talked to them, the two display models were the only two guns in America.
I liked the PPQ when they introduced it a few years back, but it never really caught on here. One of the problems the PPQ line faced was that it wasn’t well marketed during Walther’s partnership with Smith & Wesson. Now that Walther USA is flying solo, I’ll be interested to see if the PPQ picks up a little more market share.