I can do better than that by putting a 7oz H&R Young America in one hand and a Ruger LCR or a Charter Undercoverrette in the other. It feels lighter than air, but my point is that if you give me the choice between a short .38 and a .32 S&W or S&W Long I'm gonna take the .32 because so long as it meets the 12 inch penetration minimum, that's all that's needed.
Also, once we get to pressures under 20K PSI and snub barrels we've reached a territory where you're giving up any chance of a hollow point expanding and are relying on penetration with the possibility of tissue disruption if the fluted Lehigh bullets are used. At that point I see no difference between a .38 Short/S&W or a .32 S&W Long other than .039" of diameter.
At least with a .38 Short Colt it can be shot in a .38 Special or .357, but would it actually move enough guns that ammo would be available and affordable? I doubt it and when .32 wadcutters are $18 a box and used in competition shooting... I just don't see a future for a short .38.