I also have loaded the 32-20 for years without much thought to it. Then, I bought a chronograph and the woe began. With this cartridge it's hard to find a consistent load. i.e. a load that has an acceptable standard deviation. Factory loads (lead and jacketed) run around 30-40 S.D., which I think is a little high for non-magnum handgun cartridges. Some of my reloads at factory velocities were running 80-110 S.D. I thought the chronograph was malfunctioning. No, it was OK.
I would be interested if anyone has found a respectable 32-20 load.

My best factory duplication load from an 1905 H.E. 4th Change so far is 3.5/231 and a .313 lead semi wadcutter. Averages around 750 f.p.s. with a S.D. of 35.