A-727 small metal debris in pan - rebuild?

No, I suspect a bushing; burnt from low fluid level. Converter is probably scuffed up from running dry.

The one thing that made me question that trans was the black bits.
(Especially the black bits on the top side of the filter.)
That is a tell tale sign of burned clutches.
I have probably shown 1,000 or more customers the contents of their trans pan, and that's exactly what I would have told this one.

It might still last awhile though.