This showed up in my in-box today: Ruger Releases LCR in .327 Federal Magnum | Gun Digest:
Like the rest of the LCRs, the new .327 has the dimensions to make it a slick deep-cover or backup gun. The double-action-only revolver is only 1.3 inches wide and tips the scales at 17 ounces, making it more than convenient for pocket carry. It has a 1.875-inch barrel and comes outfitted with a Hogue Tamer Monogrip, a feature that should make recoil even more manageable. It also has a pinned, replaceable ramp front sight and integral U-notch rear.Emphasis added. What's up with that, Ruger? Was I talking to a sales rep who didn't know squat? Was this some sort of disinformation campaign? And why? Why not just say "stay tuned"?
Oh, look! An SP101 in .327 Federal too! Ruger SP101® Double-Action Revolver Model 5773. "Four inch barrel", and I bet you could find a 'smith to chop it off an inch and a half and turn it into a snub...
So, what's the big deal a bout .327 Federal? Quoth Gun Digest:
The .327 Magnum has plenty of selling points in and of itself. Among these is it’s potent, yet manageable to shoot. The round achieves velocities similar to a .357 Magnum; it actually outperforms the larger cartridge in snubbed-nosed revolvers, such as the LCR. Of course, there’s a rub to the small magnum’s performance: It’s with a smaller projectile.Would probably make a decent bedside gun, especially if/when Crimson Trace makes a Lightguard for it. (Apparently they don't, but I thought I saw one listed or announced for a Smith & Wesson J-Frame revolver, so if that's true, the SP101 and LCR should be doable, if the demand is there.)
Presently, the majority of .327 Federal Magnum ammunition is topped with 85- to 130-grain bullets. And while availability is typically not a problem, there isn’t a ton of different rounds to choose from. However, shooters need not fear about fodder for a LCR in this caliber. It’s fully capable of shooting .327 H&R Magnum, .32 S&W Short and .32 S&W Long rounds as well.
UPDATE: Lasermax sells a trigger guard-mounted light for J Frame revolvers.