Hi Mikey,
I am no CAS, and always wanting in the past for a 41, now that they are/were back in production recently, skipped over in favor of the 357 due to the ballistics in a rifle, I was impressed.
My 1894 does 2030-2050 fps with 158's/Lil Gun so I am happy. Personally I was looking in past out of curiosity at some Marlin in 32 magnum, don't know if the 32/20 equalled it, but none the less the 327 sounds neat.......but whether it would replace or warrant owning having a 357.....doubt it.
If I were never intending to shoot a deer, and wanted a fun small game/coyote, and even less recoil it might warrant a look. I'd imagine a good lung shot would drop a deer fine with a 327, but just like the 350 vs 327, the larger has more torque, so it is with a heavier 35 bullet, mo better.....one might say, if you were to go after deer.
If bulk 32 bullets and 327 brass had a cost savings over 357 loads, that might be a savings, but I am not sure that will be the case. I do think it will offer nice performance, accuracy and energy for very mild recoil, deadly through coyotes to say 150 yds or so, light on deer, but would work if you had a 'chance opportunity' but all this thought is just that.....my thoughts. I do think it would be a fun plinking and hunting rifle/round for within it's capabilities, likely equalling or close to it, the trajectory of a 357, but less recoil, something perhaps already to be had if one put 125's in a 357, but I have only used 158's, perhaps a few 140s cannot recall.....all loaded up.