A 30grain JHP @ 1,200fps is a wash in terms of energy output with a 60grain 32ACP @ 850fps.
See also this handy bullet energy table at:
http://naaminis.com/energy.html
Now, what performance do we really get out of a small 32ACP?
NAA's data is considered quite reliable; independent tests I've seen reports on clock the same rounds out of the same gun at the same speeds often enough that I believe them. Therefore this data is useful:
http://naaminis.com/naaveloc.html
You just need to know that "Black Widow" is the NAA 2" barrel model, MiniMaster is the 4".
Turns out CCIs clock 1300 from a 2". Cool.
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What does it mean for wounding?
The same power in a smaller bore can help penetration, but dropping the weight hinders it. Probably about a wash; both have enough power (with their best respective loads) to penetrate skull reliably on a "nose shot", something which can't always be said of 25ACPs or 22LR from "mousegun barrel lengths". As a result, I don't recommend 22LR as a defensive round until you hit the 4" or 5" barrel class; something like a Ruger Mark 2 or better yet the Browning Buckmark can make sense as a home defense gun for those with VERY weak or arthritic wrists.
With the CCI +V family of 22Maggies, you can choose deeper punch (original +V formula) or "more likely to expand" (+V/TNT with more aggressive hollowpoint). From a 2" or shorter barrel I like the originals. From a 4" I reach for the +V/TNT.
At longer range, any mousegun is a crapshoot but the Black Widow/MiniMaster family are known for *serious* accuracy for such little beasties. The barrel is machined at the same time and out of the same metal as the frame; there's no "junction" that can be mis-aligned or something. My MiniMaster can do 4" groups at 25 yards no problem (with CCI +V magnums), and the BWs aren't significantly worse.