I agree with you , liking the whole Ctg family .
* At the Time of Introduction * , the targeted market segment was the small frame snub .38 . The pitch was to be reasonably close in effectiveness , but with substantily less recoil . ( More about that below .)
But alas , all the factory ammo of the era was 150 - 200 fps below advertised . Plus that incarnation of H&R went under before they could fully promote it . Plus at that point those new fangled selfloading .380 's were getting popular .
H&R had kept the pressure spec low , to be compatable with their line of existing Value Priced revolvers in .32 S&W Long , with only longer chambers .
IF the ammo makers had loaded it even all the way up to the SAAMI spec , it would cought on more .
Just like loading manuals having a data for " Ruger Only " .45 Colt , many manuals had .32 L data for " Modern Revolvers with Swingout Cylinders , that at least equaled .32 Mag factory loads . ( My M31- 1 certainly did . )
The " Medium Velocity " loading for .327 , are what the .32 Mag should have , and could have been , and would have been a hit .
Historical presecedent -
The S&W M&P ( pre Model 10 ) , and Colt's OP and PPS are now thought of as .38 Specials . But pre WWII , about 30% of actual production was in .32-20 . There was demand for , and acceptance of a warm .32 in the place of standard .38 Special . Close enough in performence for SD , lower recoil . And for sportsmen and outdoors people not needing a .44 / .45 , it had flatter trajectory and better penetration than contemporary .38 Specials .