Many folks that carry the P32 usually skip the JHP stuff as we're well aware the .32acp will offer wonderful penetration or acceptable expansion, but seldom both.
I use Fiocchi 73gr as I bought a bunch cheap, but S&B is great stuff (and what I used to carry before running out).
According to various sites, Fiocchi 73gr FMJ typically achieves 850 fps from the P32 (roughly 120 ft. lbs) and S&B usually chronographs from a P32 somewhere between 900 and 950 fps, depending on the source (130 ft. lbs - 145 ft. lbs, respectively). I personally haven't run either over a chronograph that I can remember, but being a full metal jacket, I would think the little P32 has a pretty good chance of putting a couple slugs through the brain-case of most any assailant at close enough range. For me, this requires plenty of practice of drawing and firing 2 shots at a pie plat about 7 yards as quickly as possible. If I manage to do as well in life as I do in practice, I expect the P32 to provide adequate protection. There's always an additional 6 rounds if needed.
Cor-Bon did (or perhaps still does) produce a .32acp 60gr JHP that many folks seemed to like from the P32. If I recall correctly, it was expected to spit those little pills out at 1000 FPS from the P32 short barrel.
Of course, if center of mass is the target and JHP is the fodder, you'd gain a bit from the .380acp I would think.