200 X 32 = 6400 X 10 = 64000 per inch
You may swamp Mach3 depending on how fast your CPU is.
If your CPU does not have enough processing power it wont be able to keep up with the high pulse rates.
It is actually a combination of steps per and motor rpm that will do it in.
Make sure you adjust the kernel speed high enough to support your desired
See attached .pdf and .jpg