I know it's old.
I realize the OP is probably not reading this and has, by now, figured out the issue of point of impact. For those who are here now, as has been stated, the trouble is easily diagnosed. This drawing is one of several similar and tells the tale. Reverse if you are a lefty, like me!
Perhaps because the 38 Colt, 38 Special, 357 Magnum progression already existed; filling the same purposes and with many more choices of guns to choose from...
But maybe 32 S&W is easier to find than 38 Colt.
Are you sure the seating die doesn't crimp? Try running a case with seated bullet into the die with the seater stem backed way off. Turn the whole die in until you feel it make contact with the case mouth. Then back off the ram and add one half turn to the die into the press and see if that...
weight issues
Hmmm. 22.4 oz automatic with 17 rounds of ammo or a 36 ounce GP100 with six rounds. I wonder if the difference is noticeable. But, carry whatever you want and hope for no encounter, which is the norm...
Info here that applies...
http://smith-wessonforum.com/s-w-revolvers-1980-present/84813-info-629-snubbie.html
http://smith-wessonforum.com/s-w-revolvers-1980-present/455744-3-629-2e-unfluted-value.html
http://smith-wessonforum.com/s-w-revolvers-1980-present/424746-3-629-2e-first-s-w-revolver.html