The .32 H&R magnum has not gone away or near dead. There's a quiet group of users who are not noticed because the .32 calibers are not either He-man enough or other cartridges have taken some of the .32's missions away from it.
Things are quiet for the .32s and get no notice by most of the handgun society.
There have been many recent articles in various gun magazines and journals that show what the .32 caliber guns and cartridges are capable of.
Not being a big bore blaster kind of puts the .32s on the back burner. Until know.
With the spike in CCW permits, get a gun while you still can mentality, and the spike in people buying subcompact and compact guns, the .32s and .380s are back.
The new somewhat big blaster in the neighborhood is the .327 Federal cartridge. It's a powerful little number.
The good news is the .327 Federal handguns are selling like hotcakes at a International House of Pancakes. Trying to find these little numbers is difficult.
The nice thing about the .327 Federal guns is that they can shoot .32 S&W Longs and .32 H&R magnum rounds as well.
Most online stores do not have them and local gun shops seem to be having problems keeping them in stock or getting them. That could all be changing as this is being put on virtual paper.
Ruger has just introduced the GP100 as a 7 shot .327 Federal model and a Blackhawk that holds 8 rounds.
Couple that with the Ruger SP101 already out there in that caliber, add in the other brands in that caliber as well, and things have taken off.
The GP100 and Blackhawk are already in the pipeline but are not to be released until supply is enough according to Ruger personnel. Yes, I talked with them for a short period of time. Customer Service and the supervisor say so at least.
Trying to find .32 H&R ammo can be tough, but you have to know where to look, and yes, there is somewhat of a shortage for know. Not so for .32 S&W Long if you know where to look.
Lack of ammo is not because the caliber is dying for lack of interest. Just the opposite.
Here's a link from THR on the .327 Federal and the 32 calibers.
http://www.thehighroad.org/showthread.php?t=493968
I own a Ruger SP101, with the 3 inch barrel and a Taurus snub revolver and both are in the .327 Federal.
There is a link within the link provided that might prove beneficial.
Ballistics of the .327 Federal are also in the link provided.
Reasons for anyone to consider the .327 Federal and it's stable mates are also on the link.