Very interesting design...all Savage firearms of that day were (1899 rotary mag lever gun is another example.). The .32acp is a snappy round and the smaller pistol gets 10 shots off quickly.
From what Ian is saying about the .45 acp model, there are similarities and differences. The .32 is a delayed blow back which equates to quite a hard hitting pill (there are pine board penetration tests that are impressive.). Due to a 5 degree delay of the bolt/slide moving rearward, the projectile benefits from
all of the powder potential. The bullet leaves the muzzle just prior to the action opening.
The sights suck. A target pistol it isn't, but that's not to say that there's any problem holding 6-8" at 50feet.
The trigger doesn't suck (Ian commented the larger model is "certainly a military trigger"). It's nowhere near a 1.5lbs 1911 comp trigger, but it isn't bad.
Mine is an early example with steel grip panels, the .45 acp has wooden panels.
The .32 acp model's don't have the ubercool landyard ring, but the mag release is identical to what is shown in the vid.
The .32 acp doesn't hold open on last round like the .45ac
The .32 acp has a slide hold on the left side of the firearm, similar to 1911 control, the .45 acp model is on the right side.
The .32 acp is verboten (I'm 12/7 designated). the .45 acp wouldn't be.
The .32 acp is a single stack magazine...the .45 acp is a double stack (the handle would be considerably thicker.
The .32 acp doesn't have a beavertail safety...or any safety for that matter. It has a half #### on the striker, but I wouldn't count that as a "safety". Because of this, it is ill advised to carry this gun chambered ready.
All in all, the .32 acp would have the stopping power (penetration) of a 9x19mm if not better, is a smaller firearm than a Glock 19, and it points really well...all with very quick follow-ups. I like it.

Yes, it is a striker and not a hammer fired gun. A 1907 striker fired gun!?
*note* there are many changes or slight differences depending on the year they were made. For example, you'll note that the slide lever here is raised similar to a 1911. Mine is a round knurled pimple type lever.