I spent 5 hours researching handguns the other day, including all real damages. Beretta, point blank - 17 dmg chest, 27 dmg head, 9 dmg foot. Compact, point blank - 23 dmg chest, 36 dmg head, 11 dmg foot. Beretta shoots once every 90 ms. Compact shoots once every 120 ms. Therefore, assuming all shots are headshots, the damage per second for both guns are exactly the same. Beretta shoots 4/3 as fast but does 3/4 the damage. If they're chest shots, they're also basically identical, and if no rounding were involved, I suspect Beretta damage would be exactly 3/4 that of a Compact. Compact has a tiny advantage because of the rounding effect. Of course, what does this mean for the average player? It depends on how often you can hit someone. Shooting someone with less than 100 hp, Compact can have the advantage, just because it might take a slightly shorter time, even accounting for the fire rate of Beretta. For instance, someone at 28 hp will never die in one shot from a Beretta, but can die in one shot from a Compact HS, even at 10-15 meters away. Beretta can have the advantage, because hitting someone more times per second will recoil them more, and ruin their aim more, thus making it harder to hit you. Finally, to take advantage of the fire rate of the Beretta, you have to be able to spam click at the Beretta fire rate, something that I cannot do. This is why I use a Compact, because my fingers can click the mouse at near the maximum fire rate of the Compact, with a few misclicks here and there. Another factor you might want to think about is the clip size, because if there are several people who are low on HP, you might want a larger clip. in case you miss a few shots here and there. The weights are identical, and Beretta seems to shoot more accurately when you're moving.
For people looking for damage statistics, at point blank range: Beretta - 17 chest, 27 head, 8 foot. Compact - 23 chest, 36 head, 11 foot. MR73(The handgun with the highest DPS) - 26 chest, 43 head, 13 foot.