727 Trans Fluid Capacity

rally said
I did it like this: engine on dolly(I'm gonna install engine from bottom) mount converter to engine. I then hook the trans to engine, I use the hoist to line up the trans with engine, by that time I turn the crank until the trans complete bolt in the engine, it work.

However after reading your post, I'm kind of worry about the alignment- center line of converter and center line if input shaft. What do you think, should I be okay with it?

No, that's a sure way to break the pump lugs, converter hub, seal, and/or bend the flex plate. Like what was mentioned, get the converter completely seated into the pump first, then bolt the assembly to the engine. Some converters are real hard to get seated anyway so trying to do it by turning the engine over would be a nightmare.