Low Gear 727 with 3.23s

You are correct! When I had my automatic, I used a 999 gearset (904 unit) with 2.94s and still ran 12.60s. I love poor mans overdrive. I run a 4 speed now with a 3.09 first and 1:1 4th, still with the 2.94s on the road course. Silky smooth with an alum driveshaft and stock driveline angle. Of course more gears and deeper gears would be better, but the mild rear gears are great.