Were you impressed with the .32 S&W Long/New Colt Police? How about the .32 H&R Magnum? No? There is a void it fills: A .32 cartridge with impressive terminal ballistics (for a self defense/Carry gun).
I can't agree there was a void there since .32 Magnum was capable of nearly the same velocities as the .327. Of course you had to reload to get that performance! They introduced the cartridge with low pressure limits and with some minimally strong guns from H&R. Companies like CorBon thought about making SD loads for it that really had high velocity but you always had to worry that somebody might put one in an H&R.
Skeeter and Dean Grennel did a magazine article where they showed it was perfectly safe to go over 1500 fps with an 85 grain XTP out of a Single Six. I've been using some of their loads for years in mine. The .327 came along kind of like the .44 Magnum did. A longer case so that the factory could be sure nobody would put a super high pressure .44 Special in an older gun.
To restate: the very best use of the .32 is in smaller frame guns. For an outdoors type of gun, the best thing is to pick a platform that is .22 LR sized. Like a Single Six. If you are going out to plink for hours, you take the Single Six in .22 LR. If you are going to carry the gun all day when working and you just might have to shoot some medium size vermin, you take the Single Six in .32 Magnum. Or .327 if they would make it that way!