I've gone down the rabbit hole a few times on .32 Fed Mag, and can't convince myself I have to have one...or, have always managed to convince myself I don't need one.
At any bullet weight, the .32 Fed Mag achieves basically the same velocity as a 9mm loaded to that same weight; a 90gr .380 HP at 9mm +P pressure will get moving. I handload and have a 5.3-inch barrel 9mm.
Light bullets from a .357 will do everything the same weight bullet will do from the .32, and a lot more. The only advantage is a slight external ballistic edge, flatter shooting for varmints at range. And arguably, the smaller cased rifle-ish rounds blow away the .32 in that department.
The only reason I can see for needing the .32s is to put six rounds where you can only fit five rounds of .38/.357.
There's a guy on Ebay selling a .32 H&R Contender barrel who wants you to convince me I'm wrong.