Would it work or be better to uninstall 'normal' gcc and create a link> @ /usr/bin/gcc to /usr/bin/gcc32 so that I effectively have only one gcc?
No.
> Or, is there some good reason to actually have both?
gcc 3.3 is the de facto default compiler for FC1, you want that. gcc 3.2 is included because gcc 3.3 is stricter in some areas (others can elaborate here, or search the archives/google for details), so certain packages (for example the kernel) won't build (properly) with gcc 3.3.
/Peter