Reliable yes, accurate.....well as accurate as a snubnose at night, it's just a point and shoot gun. The sights are worthless, I don't understand why they have them.
This is a close quarters gun and not designed to be accurate at more than 20 yards, but if you are using it as a machine gun then you just watch where your bullets hit and adjust where you are pointing it.
I purchased my class 3 full auto from a great guy from this forum. In fact I traded several AR's for it. It shoots great, and as for accurcy, you have to know how to shoot a full auto or you will never hit anything. There are tricks that you learn from people that are experiance in this type of weapons. And yes, you can hit what you are shooting at, it is not pray and spray. There is a reason that these are one of the must have's, when it comes to class 3. If you are purchasing a class 3 UZI it will be one of your best investments.
Never owned one, but have through my time in Germany shot lots of them, compliments of the German Army. As for a second generation submachinegun, its one that others are gauged against. Once you learn her trigger 100yd COM 3rd hits are easy, anything inside 50yds semi or FA are head shots. One of the easier guns to maintain, and even though heavy compared to some of todays designs, its smaller than most out there today. If you'll notice alot of the newer PDW's are going back to the magazine in the grip pattern of the UZI, and collapsing stocks.