Well, what you should probably do is to start off by considering what the M32s don't have. And yes, they're missing a good bit. They have no ring modulators, for example. No sample & hold, either. The EGs are three-stage, so no release time constants on the envelopes. No separate VCAs. This is the 'bin' from which you need to calculate what should go in the 60 hp third cab.
Next, what DO the M32s have? VCF, check...and quite good ones, too. VCOs? Hmmm...just one each, actually. LFO, yep. Sequencer, yep. Slew limiter...mmm, kinda, as it's sort of hardwired. Mixing...eh, not multichannel. MIDI, yup. Output stage is there. OK...
Now, consider the first part above, and think about what you want to do. Is this rig for a specific sort of music? More of an open-ended idea? Your comments sort of indicate that the situation's more toward the latter, so...let's go from that. Gimme a bit...
OK...dig this:
Like you noted: nothing flashy. Instead, this is some extra control-type stuff that augments what the M32s do best, by filling in some of the gaps that the M32s have. The only audio thing in this is (technically, as the added mixer and VCAs are for control signals, optimally) the Intellijel uMod. This gets you a lot closer to the generative-type zone, also, since you have extra LFOs and EGs, S&H, a comparator, Doepfer's weird-but-neat Morph Controller, and a couple of VCSs, which are basically half of a Maths apiece. With the addition of all of this, you can push the M32s around in ways that the stock versions of these simply cannot do.