  We present dynamical models of the nearby compact elliptical galaxy M32,
using high quality kinematical measurements, obtained with the integral-field
spectrograph SAURON mounted on the William Herschel Telescope on La Palma. We
also include STIS data obtained by Joseph et al. We find a best-fit black hole
mass of (2.5 +/- 0.5) million solar masses and a stellar I-band mass-to-light
ratio of (1.85 +/- 0.15) in solar units. For the first time, we are also able
to constrain the inclination along which M32 is observed to (70 +/- 5) degrees.
Combined with an averaged observed flattening of 0.73, this corresponds to an
intrinsic flattening of approximately 0.68 +/- 0.03.
  These tight constraints are mainly caused by the use of integral-field data.
We show this quantitatively by comparing with models that are constrained by
multiple slits only. We show the phase-space distribution and intrinsic
velocity structure of the best-fit model and investigate the effect of
regularisation on the orbit distribution.
