That 727 is a great trans, man. If it's on good shape, and you don't plan to do anything to it, at least pick up a TransGo Stage 2 kit for the valvebody, and mod that thing. Makes a WORLD of difference.
My 46RE is derived from the 727, and I did that kit. You get the option to build it mild to wild, and I went a little bit more than halfway with it. Converted it to full manual control, too. Best thing I ever did to that trans, besides add a pretty big cooler for it. <thumbsup>