http://castboolits.gunloads.com/forumdisplay.php?f=62
As stated above Paul Matthews book is the bible for p.p.ing.I think you will get more/faster satisfactory results with B/P.The 32-40 was the cartridge of choice for off hand formal target shooting before smokeless powder.If you don't mind the experimentation with componets."traditional" would indicate B/P I think once you understand loading B/P cartridges in its various forms in some rifles it will outshoot smokeless.The 32 40 will be the most challenging to get to shoot well.My Lone Star roller 40-65 will take 500 m Rams with boring regularity under good conditions using B/P.Some cartridges just shine with B/P anything .40 cal or bigger and traditional cartridges will shoot much better with B/P.Best accuracy will be with a straight sided flat base bullet wrapped to bore dia. Fairly soft bullet 20:1-40:1 lead/tin.harder for smokeless.
I see very few rifles using smokless and p.p.ing doing what the B/P will do with either "greasers" or p.p. at longer distances in traditional rifles.
Dec 2010 Handloader magazine has a great article on the 32-40 and getting it to shoot.