No reason why it wouldn't. But... if a 32 mag is what you really want, in that situation I'd think you'd be further ahead to resell a shooter grade K32 and simply buy a 16-4. The least expensive K32 I've seen was in pieces and stored in a zip lock bag. This was at at a local gun show last year and the seller was still wanting $1400. I've seen 16-4s sell for less.

John