May need advice on 727 build

That appears to be an aluminum case planet. I like the steel better. It's arguable either way, but that's JMO.
steel is better if it splines to the output shaft. not realy required for this type of build. if the planet was noisy before, by all means replace it. but the new used one( all you can get now) may be just as loud. a 50/50 shot in the dark at best.