Another vote for "no chop" here. But if a chopped '32 has been a longtime dream, go for it. Personally, it makes my neck hurt just to look at somebody driving one all hunched over. Maybe discomfort doesn't have to be part of the deal if everything is planned out and detailed measurements provide for a low seat mounting. I would definitely cruise a few shows and ask owners if you can sit inside to evaluate various layouts.
Do an image search and you will see that 99% of them are chopped. It would be so cool to do something different. I would definitely leave the fenders on, but here's an approach to consider:
I think this is about as sweet as it gets...
