Unless it has recently been rebuilt, a "song" should be about $100. It will need some going through, plan on that. The has the same bore as a 350, shorter stroke and therefore less torque.
327 will use the same accessories and be just about identical to the older 2 piece main GM 5.7. IF you looks around for any of the engine builds dealing with teh 5.7 engine...you will find plenty of info that applies to the 327.
I would check the cylinder heads to make sure they are setup for the more modern accessories (drilled and tapped bolt holes in the end), othewise you will have to go with the old school accessory drive.
Depending on year it may be missing some mount holes on the front for acceries. There was a long and a short water pump too. Early motors didn't have holes in the heads and long pumps also small main bearing journals. Great motor. Rev happy over a 350 and easy to make power. Look at vet cams from around 68 to easily puss 350hp.
327 is a 3.25" stroke, 350 is a 3.48" stroke. Both are a 4" bore. Small journal 327's have forged cranks and, at least used to, have a rabid following in the hot rod/drag race crowd. Could probably trade it for a later model 350 if you find the right guy.
I will be following this thread....i also have a 327 with the iron dual hump heads and a cam , from a 69impala ss laying around....was thinkn bout swappin it in one day but my 2f only has 165000 miles .....proly be a while!!!
Unless it is free and you don't have to do any rebuild/refresh/update on it at all, I would not bother with a 327. Later model 350s are a dime a dozen, have some decent improvements to them, are easier to get accessories for and make as much and more power.
The 327 is not a bad motor at all. it is a good one. But it earned it rep a longtime ago. Things have changed and it has been left behind. Nothing really special about it these days. I have a couple here I'd give away to get out of the way.
The engine needs rebuilt but any long in the tooth 350 I would want to rebuild as well. To it's comparing apple's to apples. It's not that I'm against a 350 but I want a new or rebuildable engine and the price is right and the source reputable on the 327. Plus I would pick the parts and do the build myself. The engine is going to be part of a restoration.
I'm looking at either getting a new vehicle or restoring my 60 in about a year.
I'd rather restore the 60 and build a better truck than I can buy.
Paps if you are in the rebuild market and want to have it done by a real pro in the 327 market Gary Duckworth in Maryville Illinois is amazing. He was been building race engines for 40 years and is a wealth of knowledge. Send me a PM and I'll get you his number.