I continue to be impressed by the inherent accuracy of the .32 S&W family of cartridges. These are the .32 S&W, the .32 S&W Long, the .32 H&R Magnum, and the two and a half year old .327 Federal Magnum. These cartridges are identical in external dimensions except for length, so (as with the .357 Magnum/.38 Special and .44 Magnum/.44 Special) a revolver chambered for one of these will shoot that and any shorter cartridges in the family.
The .32 S&W started as a black powder round in 1878 and smoothly made the transition to smokeless. Out to 25 yards - and maybe a bit beyond - it is a tack driver in the right gun. My gun was a New Model Blackhawk in .327 Federal, with adjustable sights and about a four inch barrel. The combination is very accurate, and the mild recoil (What recoil?! :-) means you can focus on technique.
How mild is it? My current handload uses an 85 grain lead round nose bullet with a charge of *1.5* grains of Bullseye!
The .32 S&W Long is the same cartridge with a longer case. It operates at a higher pressure, and can send the same bullet to higher velocities, as well as pushing bullets impractically heavy for its older brother.
The .32 H&R Magnum was an attempt to produce a modern, high-pressure .32 caliber round for target shooting and hunting small game. Though it was not a major hit it still sells well enough to keep ammunition and several revolvers in production.
The baby of the family is essentially a magnumized version of the .32 H&R. Yet again longer, operating at a much higher pressure, it is roughly equivalent to the .30 Carbine in potency and dimensions. Standard bullet weight is 100 grains, and it shoots *flat*. Muzzle blast is fierce for a .32, but no problem for people used to magnums or even the 9X19 or .40 S&W.
How accurate is the newbie? At the range today, after doing some shooting at 25 yards, I playfully moved the rest around and aimed at a rock at 175 yards. I hit it with the second shot, producing a spray of limestone dust and the sound of a palpable hit.
Can you imagine what this screamer would do from a seven inch barrel? Or from a lever-action carbine?