Slightly longer time before you get "two-foot-itis" and decide to move up. A little more storage in the 34. All being equal a few more feet of mast catches a bit more wind in very light air. Interior layout is different (settee of 34 vs. dinette of 32). Deck stepped (32) vs keel stepped (34) mast.
Charlie P. P31-2 #80 CATNAP
To travel hopefully is a better thing than to arrive - R.L. Stevenson
I suspect that, if you should go to the end of the world, you would find somebody there going farther . . . - H.D. Thoreau