After looking up your camera spec I see that the 3.2M mean 3.2 million pixels (megapixel). So the 4 resolutions your new camera supports are 2048x1536 (3.2M), 1632x1224 (2.0M), 1280x960 (1.2M) and 640x480 (VGA).
He replaced his p51 with a p32.
http://www.steves-digicams.com/2003_reviews/p32.html