The Young America really is a dandy little revolver, but there are some issues with them that can be corrected if someone ever brought them back. Real sights would be one, I know these are point blank range guns, but I still want sights in case I need to shoot at 10 yards and the YA's don't have a rear sight. Another issue is the cylinder retaining latch uses a spring that is not strong enough and the groove in the center pin will jump the latch and can lock up the cylinder; this can be fixed with a swing out cylinder or a more robust latch like is found on the Pietta Ace 1858 NMA revolver. Beyond that, simply tightening up the barrel/cylinder gap would do wonders for improved velocity.
I'd also make the frame aluminum because .32 ACP isn't that hot of a round that an Aluminum frame couldn't handle it, even one as small as the Young America. That'd reduce the weight another couple ounces.
There'd also be no reason why the cylinder couldn't be cut to accept .32 ACP with a moon clip that way .32 S&W couldn't also be used. In fact, I think I'd rather just have a revolver built around .32 Lg wadcutter as It's not like I'm ever going to trust hollow points to expand from such a short barrel with a barrel cylinder gap in .32 ACP. Heck, make multiple models, one for .32 S&W/.32 ACP and one for .32 wadcutter, maybe even offer dual cylinder model.
We saw in the Lucky Gunner .32 revolver video that .32 wadcutter has the power to penetrate effectively and with low recoil, combining that with such a small revolver would make for a formidable pocket gun or BUG. I'm of the opinion that in a proper .32 S&W chamber that .32 S&W can penetrate effectively (I think the .32 S&W short lost velocity going down the long .327 chamber in the Lucky Gunner video) so there's potential for that too, but reality is .32 wadcutter is far more available, as is .32 ACP.
I would like to see North American Arms bring back the Young America in .32 Lg Wadcutter, but they seem to be pretty focused just on the mini revolvers and the stupid Guardian semi autos that nobody buys anymore. For $300, $350 if they also offer a .32 ACP spare cylinder, I think they would have a major winner.