Did my 727 just die on me?

It'll probably be just fine, I just have to wonder how much of the crap that went into the pan got recirculated everywhere else.
You don't generally blow up a converter and not disassemble for inspection and cleaning.
That blown converter is just to dang close to the pump to think it never got any garbage run through it, and then since your that far into it as to replace the band it seems a big risk not to inspect the rest of it.

I've thought about all the crude in the rest of the system, and I've been trying to figure out a way to flush the coolers. The lines are the easy part.