That is a .32 acp in the same style as the PLY-22 and PLY 25 tip-up barrel design. Even in the non-PLY version, a PT-32. IMO, this would make for a good carry gun when the felt recoil of the TCP is too much. What do you say?
Taurus did build the 732 in .32 ACP for a while and then stopped!
I think the 732 is about as small as they can get in size though for engineering and for ammo pressure reasons.
I own one. It's lighter than the Tomcat ( I do have a Tomcat) and the trigger and ergonomics are better for use.
The sights are tiny, but useful. Still somewhat of a pain though.
The 732 is reliable and one of the CCW battery, usually used as second gun, but there are days when it is a primary due to the very hot, 90 degrees or higher, with humidity to match days.
For a number of years on and off I suggested that Taurus build something like the Tomcat. That was before electronic communication abilities took off and became easier to use en masse. So there might be a good chance this will get seen and acted upon. Hopefully.
Either build a Tomcat derivative or start 732 production back up.