IMHO, a five shot .327 could be built to be the ultimate small CCW revolver.
But...having owned at least six J-frames, I no longer own any. My PM9 is a far more funtional CCW weapon than any J-frame I ever owned.
And in all honesty, I have come to the opinion that smaller is not always better. I spend most of my time carrying some type of .45 acp.
As someone who likes to shoot, anything like the .327 area must be a reloading proposition to be viable.
As it stands, I reload .45 acp, .45 LC, .41 Mag, .357 Mag and 10mm. If I am going to adopt another caliber, it had better do something exceptional. For my money, the .327 does nothing I can't do already.