Gareth,

The parabellums are KWC guns and in my opinion are the best model easily available at the moment. Both the KWC guns and the Gletcher P08 are blowbacks but the Parabellum comes with a full sized mag that contains the CO2.

The P08 is not bad, but the KWC model is a lot better and often cheaper. I cannot see why real wooden grips could not be fitted to the Parabellum (though I haven't tried).

The naming differences are just a way of using a correct name but for different pistols, the P08 being a military designation and Parabellum being the commercial model.