Is a 7.25 rear strong enough?

I do not think they were very common.
I would do something different. By the time you set up the new differential. Or replaced the whole rear end you might as well upgrade to something that matches the 360 727 combination.
Not as uncommon as you think.....at least in the sense of how many came in cars. They're uncommon now because people snatched them out and scrapped them.