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I started reading your question with the wrong cartridge in mind, more so as I have a New Police chambered in 32 Long Colt...
To answer your question, I do load the 32 Colt New Police, AKA, the 32 S&W Long, mostly with wadcutters.
IMO, the best wadcutter mould currently on the market is SAECO #323, though the discontinued Lyman # 313445 is worth the time it takes invested in repeated eBay searches as well as the money committed to a winning bid.
I agree with Rocky, use a soft bullet- I don't often cast wadcutters with alloys harder than 1:160; just enough tin to get perfectly filled out bullets without having to fuss. Run both the mould and the alloy hotter than usual, particularly in the SAECO mould, those big blocks must be kept warm if you don't want problems. Too hard a bullet will lead to leading problems due to insufficient obturation. I load both of these bullets over 1.7 grains of Bullseye for use in both a Colt OMT and a S&W M16 (K32).
I do cast harder bullets using 1:20, using the discontinued Lyman #31133, a hollow point version of #3118. Driven to ~1100 fps it's a great small game killer. But, I'd not recommend this load for any revolvers chambered for in 32 Colt New Police/32 S&W Long except the Colt OMT and the Smith M16. Such loads are well beyond SAAMI peak pressures. Though recommended by writers from Mattern and Himmelwright through Skelton I won't pass data on since you don't say exactly what you acquired in the way of a .32 revolver. Truly, this level of power is dangerous in weak, and/or small framed revolvers.
Bob
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