The Marshall/Sanow stats I've read, the .380 is more effective. Of course, you'd think it would be since it is basically almost a ballistic equal to standard pressure .38 special loads. It makes 200 ft lbs and shoots a bigger, heavier bullet. The .32 is closer to .22lr than it is to .380, well, pretty much splits the difference ballistically, really. This is why I don't need no stinkin' .32.
.380s are just as pocketable, more pocketable than any 9mm including that Roarbucks or whatever it is multi-kazillion dollar 9mm. My Grendel P12 is large by .380 standards, a double stack 12 shot gun, yet fits in a rear jeans pocket nice and tidy. The P3AT is more compact and if I were in the pocket gun market now, it'd get my nod since I have a Kel Tec P11 9mm I've been more than satisfied with for IWB carry. The only thing I don't like about that gun is its 1911 style mag release. I'd rather have a heal/clip release on a pocket gun. The release on my Grendel is quite positive, yet easy to release and sitting on it won't release the magazine in your rear pocket. I don't shoot that gun enough due to the price of ammo and the PITA it is to reload the stuff. I have a 105 grain SWC bullet I cast that I load in .380, but the tiny little case is a pain. Every once in a while I'll crank out a box for range practice. Handling the recoil is no problem. Ever fired a +P+ 9mm in a 14 ounce P11?
That don't bother me, so why should .380?
As for .32 having more penetration, I'd believe that when I saw it. And, if that's the case, then that means the .380 is dumping more energy on target which is a good thing. I shoot a 90 grain Hornady XTP handload in my Grendel for a little over 200 ft lbs in its short barrel. It's accurate and reliable and shoots to POA. I had to file the front sight down a bit to regulate it, but it shoots POA now. It's plenty accurate enough for torso shots at 25 yards, so combat ranges ain't a problem.
