I hope the cartridge stays around, I'd like to have it in the SP-101, but don't want to buy it if ammo won't be commercially available.
I wouldn't shoot the 32 ACP in it. The bullet diameter of the ACP is .309 while the 327 is .312. Confusing I know, since none of them are technically 32 caliber, but then again the 44 is not actually a .44, a .38 is not a .38, and the newfangled 460 S&W would blow up if you tried to stuff a .46 caliber bullet down its tube. Basically the result is that you would not get a good seal in the bore and accuracy would suffer terribly. Plus I can't imagine that .32 ACP is any cheaper than .32 S&W or .32 S&W Long, which both use the same diameter bullet as the 327 (ballistically the same relationship as the 38 Spl and 357 Magnum).
Clear as mud?
It is what it is...