Development
The .327 Federal Magnum is an attempt to improve on the .32 H&R Magnum, introduced in 1984, a round which failed to attract shooters or manufacturers. This is the third updated version of the original .32 S&W cartridge, which dates back to 1878. The original was a black powder cartridge with a case length of 0.61 in. (15 mm), which developed a velocity of around 700 ft/s (215 m/s). The first improvement of the round came in 1896 with the introduction of the .32 S&W Long, which had a case length of 0.920 in (23.4 mm) and generated slightly higher velocities. The introduction of the .32 H&R Magnum nearly a century later increased the case length to 1.075 in (27.3 mm) and pushed the pressure up from the very low 15,000 psi to 21,000 psi CUP, which is similar to .38 Special +P. This gave velocities of over 1,200 ft/s (370 m/s), a respectable increase, but was not enough to garner any great interest in the cartridge.
Based on the .32 H&R Magnum, stretched and loaded to a higher pressure of 45,000 psi (note that standard pressure 44 magnum is 36,000psi), the .327 (actual bullet diameter .312 in, or 7.92 mm) achieves velocities up to 1,400 ft/s (430 m/s) with 100-grain (6.5 g) bullets (420 m/s and 6.5 g), and up to 1,300 ft/s (400 m/s) with 115-grain (7.5 g) bullets (390 m/s and 7.5 g), from the 3 1/16" (78 mm) barreled Ruger SP-101 revolver. The small framed Ruger SP-101 chambered in the .327 Federal Magnum was released in January 2008. Currently most of the factory loads on the market are designed for self defense in short barrels, but with a load pressure of a 45,000 psi, velocities can be expected to increase with heavier, hotter loads designed for hunting.
While the .32 H&R Magnum is a near equivalent to the .38 Special +P, the .327 Federal Magnum reaches the velocity levels of the .357 Magnum, if not the same power, with velocities of up to 1400 ft/s (420 m/s) from the short-barreled Ruger SP-101. The case is 1/8" (3 mm) longer than the .32 H&R, and the pressure, at 45,000 psi (310 MPa), exceeds that of the .357 Magnum. Since the .327 still shares all case dimensions, excluding length, with the other .32 caliber cartridges going back to the .32 S&W, revolvers chambered for it can safely chamber and fire the other three cartridges for lower cost and lower recoil practice.
Recoil is substantially more than the .32 H&R mag, but less than the .357 mag., in a snub-nosed revolver. Comparing the two calibers, Chuck Hawks says, "There is no doubt that, for most shooters, the .357 Mag. produces uncomfortable recoil and muzzle blast. ATK recoil figures for the .327 Mag. show free recoil energies of 3.08 ft·lbf (4.18 J). for the 85 grain JHP factory load, 5.62 ft·lbf (7.62 J) for the 115 grain JHP load and 5.58 ft·lbf (7.57 J) for the 100 grain SP load. For comparison, ATK figures are 1.46 ft·lbf (1.98 J) for the 85 grain .32 H&R Mag. load and 7.22 ft·lbf (9.79 J) for the 125 grain .357 Mag. load."
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