Does anyone know if the venerable 32 H&R Magnum can be shot in 32 Federal Magnum chambers?

Yes, also the .32 S&W Long, .32 S&W and .32ACP.

Please understand that I'm not picking nits here but you do mean the .327 Federal Magnum when you said .32 Federal Magnum, Right?
The .327 Magnum chamber will allow 5 different cartridges to be fired from it which may be a record for the most versatile hand gun chamber but this is strictly a guess on my part. Surely some competent manufacturer will come along and make an equivalent size K frame in .327 Federal Magnum to insure there is no more necessity to modify any more Model 16-4 revolvers. Oh yes, there could be an extra cylinder bored & fitted to the M-16-4 for the .327 Magnum thus eliminating the need to modify an original M-16-4. Ok guys & gals, lets not allow this caliber to become obsolete, its just too versatile.

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Sam
S&WHF 333 S&WCA 2198

You're correct, "smitholdtimer", I did mean 327 Federal Magnum not 32 Federal Magnum.

I just purchased a Ruger GP100 in the .327 Federal Magnum caliber, quite by accident, when I realized after the paperwork had started and I had agreed to purchase it, that it wasn't a .357. No regrets on my part, since I later tried to find any others for sale...not sure, but I guess it was a short-lived manufacture of that model. Nice to have a variety of ammo that can be used.

I tried 32 acp in my 31-1 (32 S&W Long) and in my 431PD (32 H&R Magnum).

The 31-1 shot the 32 acp just fine.

The 431PD got light strikes and FTFs on almost every round.

Both work fine with the ammo they were designed for.

Here is my beauty. The 3" barrel makes this a very nicely balanced revolver. I wish S&W still offered something in this caliber. The older J frames in .327 are very hard to find and quite expensive when you do find one.

Ruger is bringing this back in the LCR, 2" barrel and SP101, 4" barrel. Come on Smith, you gonna let the competition beat you?