Well it could work for most self defense purposes. The thugs and criminals tend to not want to get shot. You gut shoot them and they run away. If the bullet missed something vital like a major artery, the criminal has to go to the hospital. The hospitals report all shooting victims good or bad to the police. Now the perp has to explain how he got shot. You have earlier reported it to the police too. So now the perp is stuck. It depends on how good of a public defender that he gets. The public defender usually plea bargains the case to expedite it too. Of course you may have to go to court to identify him to the court and maybe take the stand against him. Of course the perp might try to sue you for it. But nowadays the courts tend to take a dim view of such shenanigans.
I think the odds are pretty remote that one would run up against a drugged out crazy person and then you would need a 12 gauge shotgun and six buckshot loads to stop them. Also trying to take on a terrorist armed with a rifle while you could have any size pistol isn't good. Better to run and take cover and avoid it unless you are forced to return fire.
The little .32 S&W Long does do about 12 inches of penetration into ballistics gel too. Thus the perp isn't going to be able to dig the bullet out like you see them do in the old Western movies. Unless he is one tough son of a gun.
ref not exactly a good test but close though https://www.youtube.com/watch?v=xYmuTH3I4c8