I also love the idea of the .327 in a short barreled rifle. I've wondered if anybody has modified an M1 Carbine to it (just for the fun of it ).
I doubt that will ever happen, but IIRC, it was brought up earlier in this thread. (of course, that could be 16 pages ago...)
It would really be re-inventing the wheel, or a Rube Goldberg. The .30 Carbine round is already very, very similar to the .327 Federal and while there are a few key differences in the two rounds, they otherwise provide very similar features. They are nearly the same size in most dimensions, but the .30 Carb is obviously a much better design for a semi-auto with it's rimless case, and stacking 15 or 30 of them in a box magazine is simple whereas it would be a nightmare to build a large capacity box magazine for the .327 Federal cartridge.
Furthermore, the bullets used in a .30 Carbine round are optimized for .30 Carbine speeds from an 18-inch barrel. Those same speeds would push most handgun jacketed bullets WELL out of their design. As it is, we can already push some of these handgun bullets to their very limit -- and that's just in a 3 or 4 inch revolver.
The 60 grain Gold Dot bullet, for example (actually designed for the .32 Auto) can be loaded in the .327 Federal but the speeds we could
conceivably push it to would go very much past the limits of the bullet.
I've been warned by the ATK ballistician that pushing jacketed bullets far beyond the scope of their design construction can lead to damage to my revolver, specifically the forcing cone. Hornady places little "speed limit specification" sheets in with thier cannelured .312" component slugs and while I haven't chrono'd a load that BREAKS those limits, I've had a lot of fun coming awfully close.
Just because I'm a hobbyist and a dreamer...
I'm focusing my "it'll never happen but I can still wish it" wishes on the guys at Coonan to build a .327 Federal Coonan Magnum Automatic.
Truly, I would be first in line. I love
my Coonan and it runs like a top, and having a little brother in .327 Federal would be a rolling riot.