^^ Yup. Assuming factory ammo here - Google the SAAMI pressures for .32 ACP; but it runs ~20,000+ AND the diameter is greater (concedingly, not by much) SO your pressures go up more - especially with jacketed bullets. Those would also tear out the soft barrels in short order. Contrast those base pressure with .32 RF which (IIRC) run in the 7,000-10,000 range at MOST. THEN take a hard look at how thick your cylinder walls are, on most .32 RF revolvers they are scarily thin. And some are cast on top of THAT. You've already got the answer, but in short .32 ACP would equate to a hand grenade. And if it didn't grenade, you can be assured it would shoot loose in short order.
Luckily, the cases are too big to fit in the chamber (at least on any of mine) so most folks are given pause at front to ask more questions! I'm also thinking on mine, that reaming out that additional thou or two would REALLY reduce my wall thickness to paper thin. Think ahead too, even if YOU were going to hand load it down, some poor sucker 25 years down the road could be picking up his or her fingers if he or she drops in a factory load not knowing any better. Jump ahead another 25, chances are nobody would have knowledge of the caution.
Reloading for the .32 RF is easy lots of great info here and on the Cast Boolits forum there is a phenomenal thread in their "Rimfire" subforum with a TON of info on the subject. Best thread online right now on that topic IMHO - have a read. Jethunter on here has bullets (or he did, its been a painful long time since I've loaded mine). .32 cal round balls work too but not as accurate.