727 vs TKX

If you are willing to mod the tunnel, then you might as well install an A518/A500; with their .69overdrive. If you can, get the one with the tighter ratios and a lock-up for sure. With 3.91s I would try whatever convertor it comes with.

These opinions all change with .69 overdrive, that shrinks your 3.91s down to 2.70. Cruizing in od, with 3.91s, should be around 65= 2180 in lock-up, a near perfect number cuz you can actually almost optimize the cruise timing for that.
I doubt your 340 even in it's present form would need more TC than what the overdrive comes with, right from the factory, which IIRC is about a 2400.
Just ask @TrailBeast how much he likes his.
Well yeah but, you won't be throwing that up there by yourself, lol.

I pulled my A500 from a Dakota pickup at the pick a part by myself and they wouldn’t even let me take my floor jack in. (Insurance reasons)
I stacked temporary spares up until I could support the loose transmission, and then work it down to the ground gradually.
They wouldn’t even help me lift it into my trunk.
I made the necessary mods to the car and put it in by myself over a weekend.
It took another weekend to build and install all the electrics for automatic shifting of the OD and lockup.
All of it in gravel since I don’t have a choice.
I had rock dents in my back for days.:D

It was 125 bucks for the trans, converter and 7290 yoke.