No, that's used for different things, like how many ways a list of items can be randomized. There are exactly 10 characters in the key that can be permuted based on the key stub (the first 5 characters), and if it's only off in one position then the maximum combinations is 32 * 10, or 3200. If it's one of the characters that can't be permuted, then you can get the key instantly.
I suggested he take it down, but he didn't..