I think it's the .32 revolver cartridge that should have been made 30-40 years ago. In a revolver, I think .327 full power loads have way too high a pressure and blast to be a good self defense choice, a reduced load is the best way to go IMO. In a rifle, that's where the .327 really shines, much like the .32-20 did, just that .327 has a much higher velocity, yet when downloaded to subsonic velocities becomes a fantastic small game gun for longer ranges where .22 would get thrown around by winds.
I have the Henry in .327 and it's a great shooter. I will soon be getting a revolver, but I'm still undecided what I want in .327, I know the GP100 isn't it, if I can get 7 shots of .357 in that, then .327 isn't worth it in a gun that size. Will probably go for the SP101 4 inch and in the future the 2 inch LCRx.
The argument people will make against .327 is just buy a .38 or .357, the bullet is bigger and the ammo is cheaper. That's true, but in the very light .38 snubs, recoil is there, with the .327 the LCR weighs a few ounces more, you can get weaker .32 ammo, and again, 6 shots.
IMO, if the top choices for pocket guns is between a 5 shot .38 snub and a 6/7 shot pocket .380, then a 6 shot .327 is the best of both worlds. You get the revolver reliability with the pocket .380's capacity, more powerful ammo, and a better trigger too.
It's when you get up to the SP101 and GP100 sizes that .327 becomes hard to justify when .357 is easier to shoot from those larger, heavier revolvers. I'm simply interested in getting the SP101 to be a sidearm for the Henry I have. The Single Seven is a tempting choice, but I already have a .32 SAA and other single action revolvers, I really don't want another.
For the LCR's tho, .327 is a perfect fit.