What are the advantages of this cartridge? I'm having trouble seeing the point in an SP101. Especially when my SP101 snubby shoots .357 mag and .38 special.
1. 6 shots over 5 shots
2. Less recoil. I don't know if this is true or not, I havne't shot a .327 yet, but I have hot loaded some .32 H&R and they feel like a .38, so the .327 probably must feel like a .38 +P, but with the power of a moderate .357 load.
3. Can shoot .32 S&W Long, .32 H&R Mag, and maybe .32 ACP. This kind of feeds in with reason #2 in that the recoil is low, sometimes VERY LOW, with some of this ammo. I'm talking .22 recoil, but with a bullet more than twice the size of a .22.
4. Great small game cartridge, probably a decent deer cartridge too. This is the big one for me and why I'm getting a Henry in .327 soon. I like that with proper ammo, I can take squirrel, rabbit, fox, etc. all the way up to deer, all in one rifle. Accurate too, more so than .357 as it's trajectory is flatter.
In a revolver tho, unless it's a snub or something with a 3 inch barrel or less, I'm beginning to wonder about the same. Some say they don't feel much difference in recoil from a .327 to a .357. Again, I can't vouch for that, but if that's the case, it makes it really tough to say an extra round in a cylinder is worth the cost of the ammo over .38/.357.
One thing I can say is if you want to buy a .32 revolver, you're better off getting a .327 over a .32 H&R Magnum because it's much more powerful and peace of mind as you're covered with a factory warranty as Ruger currently makes .327 revolvers.