There is definitely a difference shifting from 440 to 432 base or 444 base. Question mark is whether Fubar2000 does a 'lazy shift' or a proper shift.
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Did spectral analysis of audio coming from Fubar2000 + Soundtouch... its doing a proper shift. And Goldwave seems much faster if you want to conversion of file. Audacity has a Sliding Time Scale / Pitch Shift effect but the quality is quite questionable without checking Dynamic Transparent Sharpening. Some say you should change the audio sample rate to 96 kHz before doing the shift using Audacity and then shifting back to 44,100 Hz.