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O27 is generally considered the Classic toy train realm. Lionel, MTH and old American Flyer. O27 uses three rails and AC power, the center rail carries the power and the two outside rails are common. There is also O scale, where the gauge is almost the same as O27. However, O scale is two rail, scale model railroading and DC powered. Cacole statement that HO is roughly half the size of O is right on. HO is Scale or model railroading and DC powered. <br /> <br />If you have Lionel equipment it may be collectible and worth money. At the vary top of this page is a click button for Classic Toy Trains, another Kalmbach publication, dedicated to the trains you have referenced.
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