George,
To give you a brief history on the "modern" 32/20. You can blame it on the success of the 32 Miller Short. Like every successful thing, people were looking for even better so, CPA tried necking up the 32/20, it had a case capacity simular to the 32 Miller and no real work to form it, like the Miller. Thus, the CPA 32/20 (.321) came about.
TC chambered a lot of their pistols in 32/20 (.308) with a faster twist rate and to my knowledge, that is how that 32/20 became popular with a faster (heavier bullet) twist rate.
In my "case", I got involved because I had a 44 Stevens (model 45) that had been a 32/40 and I wanted to build a lighter but, competitive rifle for my wife. For the 44 I needed as small a case head as possible to reduce the thrust on the 44 breech block so, I decided to use the 32/20 case. I would have used the 32 Ideal case (same size case head) but, finding them is a problem!!!
I had heard that people were have problems with the .321 32/20 but, I had a fast twist barrel and intended to hold velocity to <1300 fps with H108 powder but, it wasn't working. I seperated 1 case and had several partials.
Then one day I found this XX Douglas, 12 twist, 32/20 barrel on Ebay. All set up for a small thread HW and what did I have in my safe? Of course a small thread HW that I wasn't using. Call me a slow learner

I of course know why it was a "take off", he ran out of cases

I am getting better case life with the 296 powder though.
Any way, I may rechamber it to use a 357 Mag case and put this case problem behind me. A good secondary effect will be to help in the cause of less confusion regarding the 32/20.
To answer your question about velocity, I'm getting 1400 fps with 10.0 gr of 296 in a 26" barrel.
Frank