Some of the hot new loads for the .380 will reliably give both good penetration and nice expansion. The same cannot be said for the .32 with any ammo I know of
It was the Win. Silvertip that elevated the .32 Auto to a respectable level and got the most out of it that it had to offer. All Seacamps were built to feed the Silvertip. And, I believe, the Glaser. Nothing else.
I believe todays ammo gives the .380 the edge. One of Farnum's acquaintances was highly impressed with his new BG380 that fed everything he put in it. John feels that DPX would be the best ammo choice.
In .32's and .380's, I think ammo choice is critical.