Hmmm! The “new” .327 Federal. Well, new case type, but seems a bit similar to the .32-20 Winchester in concept. The .327 moves, at its hottest loading (so far), a 115 grain bullet @1300fps. The .32-20 can easily duplicate this, although all of the current factory loadings known to me are “Cowboy Loads” at very low velocities, the equal of shooting .38 wadcutters in your .357 Magnum.
I will say this, the .327 would be easier to handload, since it is a straight case (therefore, Tungsten Carbide dies can be used), and it is probably a little thicker case at the mouth than the .32-20.
No discussion of loads here, as that is a prohibited topic, rightfully so, but I have loaded .32-20 for years and it is an excellent cartridge, and like the .44-40, makes a liar of the myth that the semi-bottleneck and the thin case mouths make it hard to load. It is easy to load well. JMHO.
Then, its the same old story of reinventing the wheel, and that’s what keeps cartridge collecting interesting. I used to wish that they would bring out a new cartridge every week, but now I feel sorry for the guys who collect sporting rifle cartridges - all the new proprietary loads and even factory loads must be driving them crazy and putting them into the poor house, buying a box to get one! Heck, in my own field of auto pistol, I can’t keep up even with all the new headstamps, much less the multitude of loadings being offered in the popular calibers. Thank the lord for cartridge dealers that let us get some of this new stuff one round at a time! I am not being sarcastic. I mean that.