Picked up a late 70s 360 and 727 from a D250 for a steal. Took a peek inside the block to possibly do a light refresh and turn it in to a runner while I saved up for something better. It was too far gone. Crank bearings were bad, and the bearings were oversized. Took the heads off for the hell of it and the cylinder walls are badly tapered. Looks its been through a half-assed rebuild once already. Back to the powerplant drawing board...at least it came with some decent parts and will make a good base for a future build.
I have no idea what's going on with the 727. Considering what the PO told me about the engine vs actual engine condition, I plan to take the 727 to a shop to get checked/sorted out.