Yes, you just need a .32acp barrel. I've read on this site that the WW2 .32acp barrels won't work with the .380 post-war guns, but I just returned from the range today after proving mine working. I'm about to post my range report.
But other than barrel, I was able to get 7 rounds .380 or 8 rounds .32acp in the same magazine using the same recoil spring, just swap the barrels, which I did at the bench at the range with my fingers. I was skeptical... but it worked perfectly.
Interesting enough, I did have FTF issues when I loaded 7 or 8, popped the magazine, and topped the magazine off. Didn't matter the caliber, it FTF the first round and then worked fine after that.
But putting in a full magazine and shooting (without topping off) was 100% reliable today. I probably shot 100 .380 and 100 .32, divided between the HSc w/ two barrels, and a KelTec P3AT .380 and a KelTec P32 .32 acp.
My gun is an Interarms US import from maybe '68 or so, serial # 01.17016.