I've been having fun with my new 32sii, so am happy to answer your questions as best I can.
>1. Does it have a number truncating feature like that found on older HP machines?
I think the answer is "yes." I've found a variety of "truncating features" on my older HP machines, but here's what I know the 32sii can do...
a. Display your choice of significant digits. The display is "rounded" to match your choice, but the number in the calculator remains the same (to 15 digits internally, 12 digits displayable).
b. You can select integer part "IP" or fractional part "FP"
c. You can round "RND" (this is a true truncate) to the number of digits displayed, discarding all the undisplayed data.
>2. Does it display commas indicating numbers in the thousand, million, etc., also like that found on the older HP's?
My "oldest" HP's don't have an indicator to the left of the decimal point for thousands, millions, etc. Some of my "older" ones, do... so here's what I know the 32sii can do:
a. Have commas "," for thousands, millions, etc., AND period "." for decimal point/radix. 9,999.00
-OR-
b. Have period "." for thousands, millions, etc., AND comma "," for decimal point/radix. 9.999,00
c. The 32sii will ALWAYS have SOMETHING indicating thousands, millions, etc. (Except in fraction display "FDISP" mode, where it doesn't seem to include this indicator) Some older HP calculators can turn this feature on or off.