Federal and sister company CCI Speer co-developed the new 327 Federal round to complement the SP101 platform already available in 357 mag.
It's touted to closely mimic the 357 mag but with only 1/2 the felt recoil. Federal accomplished this by launching 32 caliber bullets at higher velocities....They lengthened and strengthened the parent 32 H&R Magnum case.
Muzzle velocities for the 3 loads available are sizzling!...nearly double the various popular .38 special +p loads.
One positive...if you get a 327 Federal you can always shoot .32 Magnum and .32 S&W Long or .32 S&W rounds for practice and plinking.
It seems to be a good concept...which is why I its on my "need" list.
Hope this helps