The faster twists, will shoot a hot load maxi to 80 well, and 2-3" at 100 on the best day (I used 30 grains and an unlubed 1/8 veg wad) the 48 twist petered out at ~70-80 and wouldnt group as well. Pretty similar with roundball, but cut some off range. inside ~40-50 yards, the 48 twist could almost match accuracy, so overall, I believe the faster twist is better all around. Inside ~40 yards, its a close accuracy race, but the faster twists with the ability to be loaded hot or mild, and still match accuracy gives them even more edge.
What are you really looking do do with the rifle? predominantly squirrel roundball, I like the ability to load light, considering anything but a headshot will spoil usable meat. If you want range, and varmint/predator ability, you may want to think about a faster twist .36, and heavier conicals. I have .36 in 24 twist that shoots saboted .312 (100 grn XTP) well too 100, and Im playing with a fast twist 1-14 .36 that will shoot 280 grain Grease groove in clovers at 100, and theoretically should be able to go many multiples further. Its still a work in progress.
So far, In my findings, I think the faster twist wins almost every race.
here is a table from the old TC manual on the cherokee/seneca, that shows much hotter loads could be used. I dont remember going over 35 grains in the .32 myself yet, but I think I've pushed the range about as far as the small caliber will go. I have shot to 150 and 200, but accuracy is pretty well gone, and wind drift is substantial.
(from TC manual, circa late '70's)
32 cal RB (.315", 47gn)
30 gns FFFg 1714 fps 307 FT Lbs
40 gns FFFg 1929 fps 388 FT Lbs
50 gns FFFg 2055 fps 441 FT Lbs ( Max! in red writing)
32 cal Maxi-ball 103gn)
30 gns FFFg 1418 fps 460 FT Lbs
40 gns FFFg 1628 fps 606 FT Lbs
50 gns FFFg 1749 fps 700 FT Lbs ( Max! in red writing)