While certainly not the same gun, I have pf9 that I like to carry in a winter coat pocket. Yeah, fit and finish is nothing to brag about, but it is a carry gun, not a show piece. All that matters is that it functions well, which it does, except with one variety of my way high end reloads that it does not like. Factory loads, along with all my other 9mm reloads works fine.
In all honesty I like my Jframe just a little bit better. Mostly I just prefer the unrivaled reliability of a revolver. I surely would not knock the KelTec bases soley on fit and finish. My experiance has with KT has been good.
However, of the reviews that I have personally come across, the Ruger seems to come out ahead of the p32. I would imagine the difference in chambering has a bit to do with that. Without first hand experiance I cannot give a nod one or the other though. But my gut would lead me to the LCP.