Isn't the MAIN benefit of the PG the fact that with only a LOW and HIGH there is much less rotating mass (and frictional losses) within the tranny so that even though you have a higher (lower numerical) first gear you have proportionally MORE available engine power getting to the tires all the way down the track, this offsets the lack of the deeper first gear in a light high powered car.

By using only 2 gears of a 3 speed trans you are still carrying all the drag of the heavier 3 speed internals....so even if you mathematically work the gearing out the same, it won't perform the same.

I would imagine these 2 speed 727's will incorporate the (similar) mechanics of a glide or else.

I agree that there are way too many generalizations tossed around, but if this discussion is about simply using the 1-2 (or 2-3 for that matter) of a 727, it's not an accurate comparison to a glide in my opinion.