Go for it...

I experienced the following combinations:
1) 2.7x (with low gear ratio 904)
2) 2.94 (with low gear ratio 904)
3) 3.55 (with 727, 2300 stall converter)
4) 3.91 (with 727, 2800 stall converter, but moved to a 4000 Dynamic right now due to the powertrain combo)

A 'day-night' difference between 2 & 3 and again between 3 & 4.

If you can tollerate the higher RPM on the highway (c'mon...not that bad either...) you'll be fine, because when you're in town there just ain't no greater feeling that literally leaving just about anything else behind you...should the need arise...

Now...if you want to cruise as much as you can, and want the motor to just purr along then 3.55 is probably as low as you want to go.