My .32 Mag experiences
My Ruger SP101 .32 Mag 3" barrel revolver is great and recoil is easy. I do feel this round is slightly better than a .380 because it should have better penetration due to smaller caliber with similar weight bullet and more speed. I think this is one case where a slightly smaller caliber is (theoretically) better, due to increased penetration. However, the .32M and .380 are very similar in one shot stopping potential, so I'm splitting hairs. The .32M and .380 are very similar ballistically, yet the .380 holds a lot more ammo. That tells me the .380 is better, unless you prefer a revolver.
I like the .32M a lot because I'm recoil sensitive, but it's not in the same class as a .38 Spl standard pressure. The .32M is easier to shoot and has one more round. Never the less, the .38 Spl is undeniably better per shot, if you can handle the recoil.
I love my .32M and prefer it to a .38 Spl because I'm recoil sensitive, but I'm not going to lie to you. The .38 Spl is much better, if you can handle the recoil. If you are recoil sensitive, then the .380 and .32M are both great choices, unless you're super sensitive, in which case .32 ACP or .32 Long are choices. Hey, people with arthritis or other issues can only handle whatever their condition allows. Anything is better than nothing and markmanship goes a long ways.
I suggest you also take a close look at the Taurus .38 Spl small frame with 3" barrel. It weighs about 22 oz and is a dandy. That extra inch of barrel does wonders to improve accuracy, velocity, and it does not increase recoil. It is still easy to conceal and carry. However, I'd recommend bobbing the hammer for easiest conceal and draw. There is standard pressure, low recoil .38 Spl ammo for 2" snubs that shoots JHP bullets weighing from 92 gr to 110 gr with standard pressure. These give recoil almost as low as a .32 Mag, but with more stopping power. I personally still prefer the .32M because it's easier on my hands and has one more round.
The Ruger SP101 .32M 3" barrel is easy to shoot accurately and fast. My only complaint was the sharp edges on the hammer thumb tab. First thing I did was file those off with a smooth diamond coated file (don't get shavings inside the gun). Note: Ruger also makes this same gun in a .38 Spl.
As for the .32M lighter 2" snubs: What you lose dropping from a 3" to a 2" barrel really hurts the velocity and hitting power (and probably expansion). This applies to barrel lengths of .38 Spl too.
The 2" snubs from S&W are so light that recoil will be harsh, even in .32M. Don't let the cartridge fool you. It can kick up a storm in a 13.5 oz gun. I'd avoid the S&W unless you have a high recoil tolerance. If you want a small, light gun, the Taurus .32 Mag 2" barrel weighs 17 oz. If the hammer is bobbed, it should make a dandy pocket gun with moderate recoil.
However, if you want low recoil, look at a Ruger SP101 3" barrel revolver at 28 oz. Very low recoil. The Ruger requires a holster to carry it, or a fanny pack, in my experience. It'll fit in my coat pocket, but the weight sags my coat badly. When I put it in my waist band, it wants to pants me in public. However, if I put on a belt, I can easily carry it in my waistband. An inside the waistband holster would work dandy.
On the other hand, my Firestorm auto weighs 23 oz and carries easily by any method, including in my coat pocket. It even works in some pants pockets. I therefore also highly recommend a Firestorm .380 auto.
That said, a 17 oz Taurus should carry easily.
Bottom Line: In order from lowest recoil to highest based on my experiences as a recoil sensitive person:
1) .32 ACP Firestorm auto - great gun, low recoil, accurate, low stopping potential, weighs 23 oz, easy to carry in almost any manner, including coat pocket (7+1 shots)
2) .32M Ruger SP101 3" barrel medium size revolver - great gun, low recoil with ammo appropriate for barrel length, medium stopping potential, weighs 28 oz, not as easy to carry, will require a holster or fanny pack (6 shots)
3) .380 ACP Firestorm auto - great gun, medium recoil, accurate, almost medium stopping potential, weighs 23 oz, easy to carry in almost any manner, including coat pocket (9+1 shots)
4) .38 Spl Taurus 3" barrel small size revolver, great gun, medium recoil, accurate, medium or better stopping potential, weighs 23 oz, easy to carry in almost any manner, including coat pocket
5) .32M Taurus 2" barrel small size revolver, great gun, medium recoil, accurate, almost medium stopping potential, weighs 17 oz, easy to carry in any manner, including coat pocket, pants pocket, or whatever
6) Both the Taurus and S&W could be used to shoot .32 Longs, which would be the same or a tad more potent than a .32 ACP. This alternative should not be dismissed for very recoil sensitive people wanting a pocket gun. The Ruger can also shoot .32 Longs, but I see no reason to do this since the Ruger has little recoil with the .32M.
Note: the only guns I have not shot that are on the list are the Firestorm .380 and the Taurus .32M. I have shot the Taurus .38 and I own the Ruger SP101 .32M and the Firestorm .32 ACP.
Note: because any of the above (except Ruger SP101) can be carried in a pocket, the hammer should be bobbed if going to carry in a pocket. This does not apply to the Ruger SP101 since it can't carry in a pocket.
Note: Any reference to stopping potential means one shot stopping potential. Since you can shoot more than once, the one shot stop potential may not be that important as long as 2 to 3 shots can be put on target. The least powerful gun mentioned is the .32 ACP and I think it can get it done if you are a decent shot and get 3 good hits. That's my opinion based on what I read about South American security forces who use .32 ACP with a triple tap policy.
Any of the other guns mentioned are much more potent than the .32 ACP, so I personally don't think power is an issue with the others since you can shoot more than once.