It works JUST fine, and I have shot a lot of it out of several revolvers. The S&W guns in 32 S&W long have been 100% reliable (firing pin on the hammer) and we are NOT talking breaktops here. All solid frame guns like the model 30. I have shot them in a Charter Arms, and got some misfires in double action but 100% in single action. (CA has a frame mounted firing pin and the extra headspace seems to be the issue) In my Ruger Blackhawk in 327, and the single sixes in 32 H&R, the big single action hammer does a great job and they never miss a beat. I don't put light springs in my guns, so if you put those crappy after market springs in any of your guns, all the above bets are off.
In firing hundreds of rounds of 32 acp through a variety of revolvers, I have never had a single case split.
For the "why?" askers: I have a lot of 32 acp factory ammo on hand, some old and some new. I don't currently have a 32 auto pistol, so why not shoot it for plinking? IT WORKS JUST FINE.......
Not the best accuracy, but it is minute of tin can at 20 yards with no problem.........