Hi,
It works just like a router - except that the base image on a SUP32 doesn't do much layer 3 except rip and static routes if I remember correctly.
If you want an IP Services image, or an advanced enterprise services image (or whatever) then you need to buy one from your reseller.
It's very important to factor in software costs when buying Cisco kit - an advanced enterprise services IOS for a SUP32 actually costs exactly the same as the SUP32 itself.
HTH - plz rate if useful.
Andrew.