How are you doing sak658? I've heard nice things about model 27, from a friend who use it regularly and others. She describes it as very solid and sturdy, more so than my 201 (which I find very solid and dependable). It's in a treadle and she use it for FMQ and all sorts of things her computerized machine struggles with.
Your machine looks terribe though, I hope we get to see pics along the way. I suspect it will take a few turns with cleaning, oiling and polishing before it's up and running again.