I read thru all of this and have some brief comments, other folks added the details.
You don't need a HP rebuild - don't go nuts with HP hardware thinking you'll get a better trans. Your engine can't provide the 'push' for that.
The biggest improvement you can get is reducing the 2-3 shift's overlap (the biggest offense in a 727) via a shift kit, Transgo has a great reputation.
DON'T go nuts on that, either, use the HD/towing settings.
When I last spoke to A&A (spring 2023) he was suffering from a labor shortage, and might still be. He makes a lot of hardware in-house and does rebuilds/R&R also.
He is an honest and righteous guy, but the phone might not be his #1 priority?
Cope (CRT) got out of rebuilds/R&R a few years ago to focus on making parts. He is therefore more likely to answer the phone?
As for a cam:
I've read that Comp has a lot of failures - but consider they are a high-volume seller, so statistically speaking - they'll have more failures.
Do they also have metallurgy issues? I dunno.
Some folks say they use Chinese lifters and/or cam blanks. Other people say all cores are US sourced. I dunno.
Regardless - Hughes Engines has a good tech article on their website of what to watch for to help ensure a lobe doesn't wipe during break-in.
For cam size:
The Lunati Voodoo series has faster rate of lift, and therefore more area under the curve than an OEM cam. Which gives more cylinder filling for the same lift/advertised duration.
So if you chose a cam with similar advertised duration to the factory cam - you'll get more torque/HP with a Voodoo, and similar idle to stock.
You could go 1 size larger than stock, but a 383 is easy to overcam, so a 361 will be worse. I would not go larger than a 260-ish size in a 361 in a heavy car.
They have a 262/268 version of the factory 383/440HP cam, it reportedly works well in a 383, but I suspect those testimonies are on modified engines.
I would not risk that one in a 361. Go for an increase, but don't reach too far on bigger size.
If you drive mostly in the city, 3.23 might even give you an MPG increase, as it will lighten the load on teh 361, getting the car moving with less throttle.