I try not to weigh in on recommending specific makes/models/calibers to folks looking to buy diminutive off-duty, secondary/backup or CCW weapons. I prefer to encourage them to try and find examples of whatever interests them, and then try them out on a range with some representative defensive ammunition.
Choosing between .32 & .380 can produce pro's & con's for each caliber.
Since neither has a marked advantage in ballistics I'm looking at ease of use and follow up shots.
I'd not be so quick to dismiss the "ballistics" of each caliber quite so quickly, myself.
I tend to prefer the bullet weight and more modern hollowpoint designs available in the .380, myself ... as long as the particular pistol & ammunition selection exhibits optimal feeding & functioning in any particular shooter's hand.
Reliability is critical. (This includes being able to safely grasp and manipulate the little pistol under stressful situations, without causing any shooter-related functioning issues to occur.)
The ability of the shooter/owner to make consistently accurate, controllable & effective hits on the intended target is critical.
Mindset is critical.
Caliber? Well, this is where
I'd prefer to try and make the most out of the diminutive pocket pistol offerings ... and lean more toward the .380 ACP.
I just did that recently, myself, BTW.
After years of using one or another of my growing number of 5-shot J-frames as my preferred "minimum caliber" off-duty weapons, I found there were times when I wasn't able to fit a snub into some shorter pockets (pocket holstered) of some of my jeans. Being retired, I no longer feel like letting my cover garment & daily clothing selection be dictated by my need to conceal a weapon. That's me.
Having handled a Bodyguard .380 belonging to another instructor, I didn't quite like the extra frame size incorporated for the integral laser (nor did I want the added fuss of laser operation, battery replacement, etc). I decided to look further.
After having seen and heard of some good owner reports regarding the little Ruger LCP, I took another instructor up on his offer of borrowing his LCP for a little while. It slipped into the small jeans pockets with ease, and it was easier to forget I was carrying it than even my lightest J-frames.
I picked one up for myself and ran some different defensive ammunition through it. I tried Rem 102gr BJHP, Speer 90gr GDHP and Win 95gr RA380T (T-Series). All fed & fired just fine. The Rem BJHP resulted in a few hat-bouncing empty cases (the Win & Speer didn't).
Practical accuracy was pleasantly surprising. All 3 loads produced tightly clustered cloverleaf groups at close ranges (3-7 yds), and respectable groups out to 15 yards. Naturally, the rudimentary front sight (fixed, blued, machined into the slide) was hard to pick up and distinguish against the rear notch in the night/low light conditions in which I was shooting, but when I took the time to pick up & align the sights, the little gun produced impressive inherent accuracy. Indexed shooting at close ranges was also good (for me), too.
I decided the little .380 was a keeper ... and it became the first .380 I've owned and carried in about 25 years, since I got rid of a Beretta M84.
When I'm not carrying one of my snubs or smallish 9's, .40's or .45's, of course.
As an instructor, I've seen a fair number of itty bitty .22's & .25's not function so well for owners, as well as owners who couldn't shoot them very well under just the minimal stress of a qualification courses-of-fire (even when they did feed & function normally).
The .32's and .380's have done better, but as has been mentioned, rim-lock is an issue of which to be aware in the .32 pistols.
Overall, I think the newer .380's and some of the better designed .380 HP's are giving the .380 a renewed interest by users.
Something else to perhaps consider is that PD's create policies about such things as off-duty & secondary/backup weapons, it's not uncommon to sometimes see them restrict the authorized/issued calibers for such weapons to either .380 ACP or .38 S&W Special. Listening to their reasons (and sometimes just reading between the lines), it seems those 2 calibers are considered more "minimally adequate" than the .32 ACP (or .22's/.25's).
Just something to think about ...
I don't give the same thought to "nostalgic influences" as some owners seem inclined to do, but it seems to be a factor among some folks.