Devan - you'd need to consult Henry. While a 327 revolver works fine with 32sw or 32 long, this is a totally different action, and we have no way of truly knowing - only Henry could answer that definitively. However, In this video (by Henry) one sees the barrel is plainly stamped "327 Fed Mag/327 H&R mag (42 second mark) ..youtube.com/watch?v=xhzXVuTCy6M

you will need to ask henry Tele: 201-858-4400 or by online inquiry here : henryusa.com/henry-repeating-contact/?concerning=technical-questions

Devan, I honestly do no know Sir. For Safety and Warranty reasons, I would ask Henry Customer Service directly at Tele: 201-858-4400 or by online inquiry here : henryusa.com/henry-repeating-contact/?concerning=technical-questions