For those looking for ammo choices for their new S&W 432UC in .32 H&R, here's some ballistic gel info.  .38 Special is also covered.

S&W ULTIMATE CARRY: BALLISTIC TESTING - American Handgunner

Some highlights:

The Hornady Critical Defense load in .32 H&R had good penetration (15") but with less expansion.  Verus the Double Tap .32 H&R which had 13" of penetration with excellent expansion.  I live in a hot climate where multiple layers of clothing are rarely worn.  So, either of these HP's would work for me.  If in a colder climate, a WC may be preferred for deeper penetration.  

Double Tap is also offering a Snake load that is backed-up by a solid projectile.  This allows the load to serve as a snake round or SD round.

And every time I've ordered direct from DT, I wasn't charged tax or shipping.

Penetration Results
.32 H&R Magnum
• Doubletap Ammunition, Snake Load: Pellets penetrated 2-3? and hardcast 40-grain slug penetrated 8-9?
• Doubletap Ammunition, 60-grain Solid Copper HP: Penetrated 13” with perfect expansion.
• Doubletap Ammunition, Hardcast 120-grain: 32”+, exiting two blocks of ballistic gel.
• Lost River Ammunition Company, 100-grain Powder Coated Wadcutter: 24”
• Hornady, Critical Defense 80-grain FTX: 15” with expansion
• Federal Ammunition, Personal Defense: 85-grain JHP: 16”

.38 Special Loads
• Doubletap Ammunition, Snake Load: Pellets penetrated 2-3?, gas check 2” and 50-grain Wadcutter 8”
• Double Tap Ammunition, +P 110-grain Solid Copper HP: 16-18?
• Georgia Arms, 148-grain Wadcutter: 20”
• FederalAmmunition, Hydra-Shok Deep +P JHP: 14”
• Speer, Gold Dot +P JHP: 15”

Thanks for the info. I've been eyeballing the 432 but hoping the price will come down a little.