A couple of years ago I somewhat inherited (for a price, of course) a late 40's, M94 carbine in 32Sp. with a tang peep.
The rifle came with 7 boxes of ammo (and five boxes of brass) from both Win and Rem. Like most 32Sp owners he would buy every box of 32Sp he found. Although the rifle shoots both factory loads quite well, I just had to get dies and some cast bullets to play with at the range.
I loaded some 170gr cast bullets from Hunter's Supply with 9gr of Unique and proceeded to learn how to shoot with that tang peep. I was quite impressed with the accuracy of the load and how easy it was to use that flip-up tang peep with these old eyes.
I haven't shot anything but paper with it so far, but that could change in the near future. It sure is a pleasure to carry, that's for sure.
