The 327 Magnum is a great cartridge and a versatile chambering. It's to bad it didn't catch on like it should have, but I have a 632 3" and I'm quite happy with it. Shooting 32s I discovered is quite enjoyable, so much so I added a Model 432 in 32 H&R Magnum to my collection. The 32 H&R was looked down upon by many, but with some truly excellent loads like those from Buffalo Bore and Hornady things are improving. Now I need a K32 Masterpiece.
The problem with the 32 H&R semi-Magnum was the fact that it was designed to be used in the decidedly less-than robust platform of its namesake, the Harrington & Richardson... don't get me wrong, it is a good utility gun in its own way, but not up to the task of handling a high performance round. When S&W and Ruger chambered mostly small frame guns for it, that just reinforced the need to keep factory loads to "reasonable" levels (read that "wimpy.") Although a relatively few Models 16-4 and Blackhawks were built, the only way one could take advantage of the potential of the so-called magnum was to handload for it. With its longer OAL, the 327 FM could be loaded to true magnum levels with impunity since nobody made a small, weak gun that would chamber it.
Ruger took the lead in making a couple of full sized DA and SA revolvers and Smith made a H4lf-@$$ed effort with a few little J-frame offerings, but even these products have all been pretty much discontinued now. There was never a heavily heralded rollout of the cartridge or the guns that could shoot it, and ammo was never in abundant supply, so surprise, surprise, the cartridge never took off!
I'm just venting here, because I went to the trouble to walk the walk and have a proper gun built for the cartridge, and I am not likely to ever regret doing so, but in the best of worlds I shouldn't have had to make it myself. Every time the subject comes up her, or on the Ruger forum, or a reloading forum, the interest is high. Within the industry, not so much.
Rant over.

Froggie