One of those in 12 gauge over 32-20 lived at my house when I was younger. It was my dad's duck gun.
If I remember correctly, he wanted an L C Smith but the Hollenbeck was a lot less expensive in the depression.
There seems to have been a rumor of a problem using it due to the rifle barrel. Even though it was a double shotgun, the posession of a rifle in a duck blind was prohibited. He never brought 32-20 ammo with him and had no problems.
One thing peculiar to this one is that the chokes were backwards. Normally, the left barrel in a SxS is the more open choke. This one was reversed.
Other than handling and cleaning it once in a while, most of what I know about them is from the June 1964 American Rifleman article.
By the way, it was available in the 22 WCF. I think the Hornet from 1930 would give pressure problems.