I wouldn't swap it.
my 2 cents... Find a core 904 trans, Spend the money you'd have to buying a shorter driveshaft on a $100-120 rebuild kit/service manual from northern auto/transtar, and build the 904. A well built 904 can handle most any 318 on the planet and takes less hp to drive than the 727.
You have a 727 convertor as well?
You get to learn how to rebuild a 904 trans which may come in handy later.