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a "heavy" .32 H&R Mag load that sends a 100 grain bullet to 1,300 FPS
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That's a huckleberry right there at 375 ft-lbs of ME. It certainly would compete head-to-head with the 38 Special. Smith could see some some significant market demand for the discontinued 431PD and 432PD two-inch J frames with a round like that available.