I have owned 4 P32s, from back in the day when Kel-tec seemed like the only company making affordable light carry guns. I don’t own any now.
The Ruger LCP in my book beats any small Kel-tec in build quality and reliability, and the .380 is a better cartridge for defense. No question the LCP has taken a ton of sales from Kel-tec over the years.
That said, the P32 is the best Kel-tec in my experience. As you guessed, it’s much easier and more comfortable to shoot than any .380 near its size, and I found it accurate even when fired fast, which you can do because of a decent trigger and light recoil.
Also, the .32 cartridge doesn’t stress the skimpy Kel-tec construction that much, and reliability improved with the second model fixing the extractor, so I think the P32 is more reliable and durable than the other Kel-tec models . Even so, None of the four P32s I owned was really reliable enough for me to carry, with even the best one finicky about what ammo it would feed reliably, even using only fmjs.
The P32 has its fans, Bill DeShivs being one of the biggest. It’s not a huge risk at normal prices, but don’t expect perfection.
P.S. Rimlock occurs at the rear of the cartridges in the magazine because of the semi-rimmed design of the .32. You have to watch that you don’t override the rim of the cartridge below when loading each round into the mag. Like loading a .22lr semiauto. A drawback of this caliber. Not sure why rimlock is affected by fmj v. jhp. The fmj should feed more reliably and penetrate better.