Hindsight is 20/20, or like regular sight only more finger pointy. I understand your historical perspective HKsmith, but let's also keep in mind other historical aspects at play.
Back before central heating, and automobiles, people tended to dress much, much, much heavier than today, and since they didn't drive there car here and there, and use it as mobile storage for key daily items on their daily routines, they often carried a great deal more gear on themselves. This means that it was very common back in those days to wear a coat, and overcoat, heavy wool layers, and have many items hidden away in coat pockets.
This invariably lead to many scenarios in those days of common pocket pistols, severely under powered, coming up against targets wearing heavy layers of heavy materials, with many a pocket book, flask, wallet, package of tobacco, badge, or trinket conveniently placed in chest level coat pockets, right in the way of a heart or upper torso shot. Of course, the most famous was Teddy Roosevelt's infamous assassination attempt, where even a mighty .38 lost enough heat from a steel glasses case and 50 page speech to lodge in the chest wall, and fail. By no means was he the only one in the period to stash items into internal coat pockets, and the only one to be shot in the chest, or to have rounds ground out in various daily items carried within.
Needless to say, for the close range kills the .32 S&W made, the chances of its failure to stop were, well, very high indeed. Its an interesting concept: we have better handguns, calibers, and loads today, and although people are bigger and thicker, today's style of clothing, as well as the tendency to carry very little in day to day activities upon one's person, actually leads to softer targets, whereas in the olden days the pocket pistols were gutless, and people dressing to stay warm and carrying half of their meager possessions upon them down the street, makes for much tougher shots against much harder targets.
True stories abound of that age, of bullets coming to rest in clothing and items, the old stories of heavy nickel badges stopping pistol rounds, ect, and the rounds of the era didn't help much. There is a reason why the .38 special took off, why .44 special enjoyed great success, and why the .32 S&W regular and long eventually faded from the mainstream into obscurity. Perhaps they would work better on today's half naked, half starved meth addicts as far as penetration goes, but I'll stick to 38 +p as bare minimum.
Now that I'm going on to long again, I'll say the only reason i consider the Buffalo Bore round to be interesting is that with 115 grains and a .31 bore, the sectional density, along with the extra power, might just be enough to do the trick. I'd never really suggest it, but if the woman likes the revolver enough, and can use the hotter round, than perhaps it could be considered at least somewhat maybe adequate.