The B-727 was a HOT ROD. On take off it really pushed you back in the seat. It was fast enroute also. My last flight was on TWA from PHL to JFK to catch a TWA B-747 flight to Paris.
I'm a CFII and I agree 100% with you. FARs make the PIC the final authority and responsible for the operation of the aircraft. That's a rule not to be taken lightly. My personal philosophy that I teach is that the purpose of the preflight inspection is to find a reason not to fly that particular aircraft. If you can't find anything unairworthy, then go flying.