Sadly, S&W still doesn't list a 632... but you made me look, Ala Dan!
The pusher on this side of town has had several '.327 Magnum' SP-101s - and returned several due to defects. They generally have one box of ammo, too.
I had a 4" SP101 in and a 4.6" BHG SSM, both in .32 H&RM. They both went bye-bye this summer - as did my reloading supplies and dies. Simply put, reloading bullets aren't as easy to find as .38s, of course, or generally as cheap. A wimpy .38 load drops the rebounding steel plates, a warm .32 H&RM won't. Then, there are the revolvers I had.
Both Rugers had large chamber IDs (.337+") - causing the low pressure rounds to swell enough that extraction is difficult, as commercial ammo - and sizers - are at .334" OD. Ruger makes 'large', aka 'black powder', chamber bores so their revolvers can be shot a bit longer between cleanings. Such just isn't the case with hot & nasty ammo - like the 100gr XTP JHP GA Arms sells - it makes 1,286 fps - and 24-30 rounds will gum up the SP101.
The worst design feature of the 4" SP101 is the cheesy adjustable windage-only sight. It needs elevation adjustment. Mine, an unshot LNIB purchase - and the only Ruger I've bought that wasn't brand new, was beset with more QC issues than any other Ruger I've ever owned. They were the usual burrs, and, as I am accustomed to working on Rugers, they were all fixed with TLC - and a new Hogue grip and a pair of lighter springs. The result was a lot of fun to shoot - great trigger - just pure misery to dump the empties, find affordable and available ammo components, and make a round that would hit vertically close to where I aimed.
So, my .32 experience ended - I loved it - for a while. To be purely honest, wimpy .38s are more fun - mediocre to +P .38s are likely better protection, too. YMMV.
Stainz
PS I owned a few .22 WMRs - and still have some .22 LR rimfires. I have never wanted a .17 anything... keep that in mind re my .32 remarks!