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I have an EM I built a few years back. My EM has a corvette differential with a 3:73 rear, 5 speed Richmond transmission powered by a 351C. I have no problems with this set up.
My car has no problem launching with these low gears and I'm not turning more than 3500 rpms on the highway. The top speed is ~150mph without an overdrive gear. Which by the way is pretty damn fast!
With the torque from your 427 you could certianly put taller gears in your rear diff. without it effecting your low speed performance. But I don't think you really have to. Your car should take off like a rocket.
Good luck,
Lew
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I also drive an Original '78 FJ40.
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