Of course then my next problem would be you can't get a recessed chambered, pinned barrel, six inch S&W Model 19 chambered in 32 caliber.
It is well known that light-weight bullets at high velocity expand rapidly and reduce penetration, causing shallow surface wounds which often fail to reach the vitals.
As a defensive round the .327 will prove inadequate to penetrate heavy clothing and reasonable cover.
There is a comparison poster available on the ATK website (http://le.atk.com/pdf/GoldDotPoster.pdf) that compares the preformance of different Gold Dot bullets, and it shows that the 115 grain 327 Gold Dot bullet is capable of both excellent penetration and expansion. When shot into bare gel, the 115 grain 327 bullet penetrated to 14.75 inches with an expanded diameter of .627".
The 115 grain 327 bullet not only expanded nicely, but it is shown to have penetrated deeper in bare gel than all the Gold Dot bullets in 38 Spl, 9mm, 40, 45, and 357 Sig that were tested! Only the 357 Magnum bullets penetrated deeper.
I like it, if you can find one. I have a Taurus snubby and love it, but I like the hamerless J frame revolvers. And yes, the price is typical S&W "outrageous"Smith now markets two models in this caliber. The only one that I find "interesting" is the two inch Model 632, albeit at a price. A very stiff one indeed: $900+! But cute none the less. Have no idea what I would do with it.
I already have a Ruger Bisley in .32 H&R and find myself shooting it mostly with Starline .32 long loaded with 105 gr. cast originally designed for the .32 Colt New Police (don't know what the "old" police were shooting up to that point).
Great article, and even greater idea: a good, lightweight carbine in the .327. A nifty little single shot or even a Marlin, with the loading gate Ed alludes to, would quite the ticket! one of these and a pocketful of cartridges could provide an afternoon of enjoyment in the pine flats.