A 32 gauge has a .526 bore according to the chart here on the site. If it would shoot RB as well as any other smoothbore, it certainly would do the job on lots of game.
As for using shot, that will be a dandy small game gauge in my experience. I've hunted seriously for over 40 years with modern 410's and 28's using 1/2 to 3/4 oz of shot, and they're dandy with the range limits. If I come across one of the 410 SxS that surface now and then, I'm pouncing on it. Same if I could find a 28 SxS. Inside 25 yards it will be dandy for birds and such, adjusting pattern density with shot sizes suitable for the target.
Can't say whether those traits will meet your needs or not, but if they do, I'd jump on it and never look back.