A penny saved is a penny earned. But every once in a while it is good to treat yourself to a gum ball.
Probably the folks who read and post in the Classic Toy Trains part of these forums would be better able to assist. I did note in paging through a new Lionel catalog at Trainfest this last weekend that they indicate which items can run on O-27.
Originally most O-27 trains were smaller than 1/4" scale -- more like S scale sized trains running on O gauge track (this would be very obvious if the two sizes were mixed). Some stuff from the O part of the catalog would also run on O-27 but Lionel was careful to clearly identify cars and locomotives for the two lines.
Ideally you can ask your hobby dealer if they have literature on minimum radius. Best of all they might have a layout where you can actually see the trains run on O-27.
Dave Nelson