truth is NOBODY wanted these things when S&W made them. They were real orphans. At the time you could not say the word "32 mag." without somebody trying to compare it to a 357 and saying they had NO use for it. < snip >
And part of that is, of course, that "factory" 32 H&R is limited by the strength of the original H&R guns, which was pretty feeble. Common factory loads are only a small step beyond 32 Long in energy, and nowhere near even garden variety 38 Specials.
The hot Buffalo Bore loads say ON THE BOX - Not For Use in H&R Revolvers. But most gun stores aren't going to stock that stuff, and won't talk to a potential gun buyer about having to order effective ammunition for a 32 H&R revolver online. Much easier to sell 'em a nice 38 Special, for which there is (or used to be, at least) a selection of ammunition on the shelves in the store.
Arguably, that's what 327 Federal was intended to get past. The 85 grain 327 Federal factory loads I checked were at the energy level of the 100g Buffalo Bore H&R loads, while the 100g loads from Federal and Speer were fire breathing dragons, up in low 357 Magnum territory.
But 327 Federal never got past a niche in the market as far as S&W making and selling 'em is concerned. Ruger either has more manufacturing flexibility, or a different view of the market, than S&W. Maybe both. Much as I'd like to see S&W back in the Potent-32 revolver business, I wouldn't bet a nickel on it happening.