The best replacement for 32x is 64x.

The best alternatives to 32x are rated as following:
★★★★★  64x
★★★  sega cd
★★  3do
★★  16xq
★  86x
★  animal pak
★  64x windows
★  asus a8n32
★  mega cd
★  a8n32 sli
  asus a8n32 sli
  super fx

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Speaking about 32x, one probably shouldn't forget about cdx.

Other search terms related to 32x and their ratings are:
★★★★★ cdx
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32x
64x
sega cd