The short answer is, "Not really."
This response is from the viewpoint of a seasoned shooter who has a reasonable competence with firearms. It is intended for one with a reasonable knowledge and competence of firearms. It is written with the assumption we all know one cannot substitute caliber or gimmicks for ability and accuracy.
A .32 ACP autopistol is not real high on any list composed by people who carry guns for a living or constantly as a defensive tool.
The good qualities of the .32 ACP is that it is usually easy to carry with minimal concealment and - at least in the better guns - very reliable.
.32 Autos were issued to many field and upper grade German officers during the Second World War. However, they were not intended for use in fighting the enemy - as field and upper grade officer don't really do much shooting. They were primarily a badge of office and probably a means of suicide if things went really, really wrong. One also finds the bulk of people - in the tens of thousands without doubt - killed by the .32 ACP round died of infection some time after the event.
No. .32 ACP is not a 'stopping round'. It is true no handgun round is a fool proof (the fools are far too ingenious) stopping round, there are many that rate better on the scale, starting with .38 Special.
No, no one wants to get shot with one. In this context, one might use a .32 ACP in one or more of those 'no shots fired, problem resolved' events. But that doesn't work on a serious adversary or a doper looking for a score.
I would consider nothing less than heavy loaded .38 Special as a defense gun. I tend more to the .357 Magnum and .45 ACP end of things, but that does require dressing with the intent of carrying a gun.
All that having been said, I do have a Colt 1903 Pocket Pistol in .32 ACP. I have carried it from time to time, mostly on a whim. The fact is, I keep a watchful eye for problems and I've never had to pull a sidearm in that context.
Thank you, Lord.
A good .32 ACP is certainly better than a soft, brown eyed stare. If that's what you have, that's what you have. If this is your choice, I would urge you to choose again and bigger.