The 32mag has amazing potential for accuracy but as a serious shooter one has to handload ammo and thats where the problem starts.
Because of all the smaller dimensions, any discrepancy is amplified. ie if you seat the bullet a few thousands of an inch deeper the pressure will be lots higher. Even using fine powder (Vhightavori) its hard to keep the measures accurate even with a Dillon measure. With 357/38 its far more forgiving because the volumes are twice the size.
However, having said all of that, if you could load it with the right load, then 32mag is as good as 22RF for accuracy and has a similar recoil. For long distance, imagine (say) an 8"" S&W with a good 32mag, Wow. It could beat 38.
I did give up on it though because 38/357 is much easier to load.
(PS. someone will shout at us now for discussing firearms in the airgun forum)
If 32 magnum had been around then, Ed would have used it for fast shooting.
Imagine the difference in the weight and travel of the cylinder!