Man I really feel for you; a lot of the comments on this thread are... confusing...
Getting only a 500 rpm drop on the shift from 2nd to 3rd, is the only info we need, assuming that is reality
At 70mph in 2nd tach should be roughly a little below 5k; the downshift to 3rd at 70mph should get you to roughly around 3300 rpm (per the calculator, and other comments).
You should be seeing more than a 1500 rpm drop at high rpm from 2nd to 3rd in a 727, right everyone?
I can’t take mine out for a spin yet, but other folks can
In 2nd gear with the specs provided (tires size, rear end, & 727 trans) per the calculator:
60 mph ~ 4K, 70 mph ~ 4,700, 90 mph ~ 6k
If your specs are correct, looks like you are stuck in 2nd gear; the values you posted line up with that pretty well.
The tach could be giving false info or the converter is doing weird stuff or a problem with 3rd could be the issue instead
Being that you tried 2 converters with the same result, the transmission seems like the likely suspect vs the converter
If you want to confirm the tach reading & rear-end ratio (doesn’t seem needed) you just need reads at a few speeds in first & second (above the stall speed), where it sounds things are makes sense.
The calculator is linked below
I believe a ratios are: 1st is 2.54, 2nd is 1.45, 3rd gear is 1
If it roughly lines up, the tach should not be a problem in what’s happening and the rear ratio is what’s claimed.
Feel free to post values if you want help with it; especially if they aren’t confirming your readings
http://www.csgnetwork.com/multirpmcalc.html
If the trans/converter is the problem I’m not your guy, but there should be folks in here to assist.
Do you have a standard 727 or the hd version with more bands? (3 vs 5 or something, right everyone?)
Wonder is it’s just a linkage problem with the shifter; am not familiar with your set up so take that with a grain of salt
Looking forward to what it turns out to be; and hope this helps.
(Everyone: If there are issues with my info above please feel free to rip it apart, however specially site the issue and the correction)