I use 72 cell for tomatoes and for peppers. They fill those with roots by the time true leaf number 3 is pushing out. I would think smaller cells would just mean you have to pot up sooner.
The smallest cells I've seen were really shallow as well, used for basil at the farm. I'm gonna have to google and ogle those teeny ones!
If I had lots of space and wanted to save time, I would probably go direct from mass germination in big cells right into pots. I have to do mass germination, limited space on heat mat.
I did google and the 392 is the same one we used for basil at the farm.
They are tiny and I found them not really easy to transplant. Bit of a trick to popping them out of the cells, otherwise they get squashed and may as well be bare rooted. Very small soil volume at a third of an inch. But it was perfect size for starting basil, and may be perfect for germinating slow hot peppers too... Let us know how it goes.