Copied the Captain_Sim.x707.sound.gau from the panel folder, renamed it Captain_Sim.p727.sound.gau and placed it in the Gauges folder (make sure to rename the original 727 sound gauge first). Fired up FSX, selected a 727 at my default KSEA and started flipping switches. Most sounds work in the VC. The rotating light knobs and trim wheel were silent. When selecting the autopilot in a separate window the switches are silent.
On the next test I copied the cs.sound.dll from the Captain_Sim 707 folder into the 727 folder. I fired up the sim and got an orange error message of "4764 ERROR: Thread sound with this id already exist (1108002)." The sounds still worked but I put it back the way I found it and deleted the cs.sound.dll from the 727 folder. The 707 sound gauge is a good work around. I'm going to leave it like this for awhile and see if it continues to work normally without having to load, re-load or reset anything. It would be nice to see a fix.