I see a real advantage for a person, who for whatever reason, is recoil sensitive. I have elderly parents, who could not control the recoil of a 38 special, or of course, anything larger. So what is left, when considering a revolver? 22LR and 22 WMR. A 32 ACP revolver would be nice, because ammo is available, and recoil is reasonable.
For that purpose, there are guns on larger frames that would do the trick. SP-101 in 32 H&R mag or 327 Federal. The S&W I have. Taurus makes a 327. All of these guns will fire a 32 H&R or 32 S&W long, which are soft recoiling. No need to put a 32 acp in these.
The only advantage of the short little 32 acp cartridge over a 32 SW long or 32 H&R is to shorten the frame.