I think the 7mm Rem Mag is overrated because what it offers in performance isn't equal what you have to pay for that extra performance. To much muzzle blast, recoil, longer barrel and action making guns heavier to carry in the field. Why choose a 7mm Rem Mag over a 270 Win or 30-06. As for 32 ACP it might be better than 22 LR but it certainly isn't better than 22 WMR IMHO.
I love my 7 mag. BUT it's mainly because of the rifle more so than the cartridge. The Mod 70 in .270 I used growing up was all the rifle I ever needed and much more enjoyable to shoot than the 7 mm mag.