Thanks for the effort. I was under the car and measuring where the ring gear and torque converter pads line up on my 5.9 & 727. I also carefully measured the 200R4 with new bellhousing with the new torque converter.
I determined the new converter is spaced like a stock GM converter, and is basically 5/8" too thin from front to rear. In other words, the starter ring gear and mounting pads need to be moved toward the front of the car 5/8". That will leave me with 1/4" to 3/16" freeplay, so the converter won't be binding with the trans pump when bolted up to the flex plate.
I also had to grind a small relief at the bottom of the bellhousing so the converter would drop all the way in.
The last pic is the 5.9 & 727 currently in my car.
I'm going to have to box the converter back up and send it back to Precision to get it modified. It's always something.