Not a 727, but I broke part of the converter snout off of a 904 way back. Happened at highway speed and locked up the driveshaft. Good times right there! I can't remember what the rebuiler said but I'm guessing it shot enough large bits through system when the broken piece made its way into the front pump to wedge fragments in throught the system. I do remember the fluid still seemed fine because it had no time to scorch and the bits were big enough to sink in the pan and not show up on the dipstick.