It was a pot of BS. The only real reason they were banned was to get us used to banning large classifications of firearms with the stroke of a pen. Next would be semi-autos, slide or pump action, 9mm, .38, etc.
Ruger has a new 32 out, it's really .312 but called 327 Suppose to have more power than a 357, 8 shot Blackhawk revolver. I guess us Canadians will never find out