Just my opinion, but I would let them keep that 32 H&R anyway. And wait to find a four inch SP 101 in 327.
But then I already have one, and two single sevens, and a six shot LCR in 327, and a Henry lever in 327.
You can shoot 32 H&R in them or load them down.
It's true that the 4" 327 would be more versatile, but I just don't like the looks of the newer SP's, especially that fiber optic front sight.