In a word... Yes. The Displacement to Ballast Ratio of a W32 is 35.9 (Ballast x 100 / Displ). Theoretically, this ratio is the relationship indicates how a boat might stand up to her canvas. Heavily ballasted boats, those with a ratio of 40 -50%, stand up well to their sail area and allow more sail to be carried in heavier conditions. Lightly ballasted boats rely on their hull form to provide some resistance to heeling and generally need to be reefed earlier to remain under control. Note that this ratio takes no account of the
location of the ballast or of the hull shape of the boat. Two boats can have the same ballast ratios with very different righting moments. If the hulls are the same, boat A with all it's ballast in a bulb at the bottom of the keel will be stiffer then boat B with a long shoal draft keel even though they may have the same BR. Racing boats tend to have higher BR's then cruising boats. Much of this is theoretical, and there are many other factors to consider. But, suffice to say that the Westsail 32 has carried many a sailor to the far corners of the world in safety and relative comfort, often in less than ideal weather conditions.
Remember also that this ratio is based on an empty boat. It's unlikely that you'll be cruising in an empty boat and where and to what extent you load your gear and provisions will have an effect on the bottom line.