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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!
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You can dance at the edge of Splodeyville with the .327, too, if that is what floats your boat........
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A 3" SP101 would have to be in .357. No advantage in one chambered for .327 mag.
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..... besides the extra round (Wow! A sixgun!) and lower recoil.....