My 31-1 has been reamed (by one of the members of this forum) to take 32 H&R Magnum, which allows it to shoot Buffalo Bore 32 H&R Magnum +P rounds that have energy slightly above 158g +P 38 Specials. (Buffalo Bore advised that their +P 32 Magnum round is safe for unlimited use in a reamed 31-1, although at ~$1.25/round I'm not going to test that statement.) So it can be turned into a small but potent defensive weapon.
That said, with "standard" 32 Long ammo, a Model 31 could be the most fun you'll ever have with a centerfire handgun. Painless to shoot and (all of my 32s are) incredibly accurate, within the limits of their sights. So if you can find ammo for it, get some, and go shooting with your wife. I'll bet both of you come back with huge smiles on your faces.