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I'm with dbruce. A lot depends on the condition, and your personal sailing preferences.
DISCLAIMER: I own a Pearson and so am a little biased...I also race on a friend's P27.
I like catalina's - have envy for a newer Cat 38 - but from what I have experienced Pearson build quality is generally better. Fiberglass layup seems to be heavier in the Pearson, giving it a more "solid" feel. Also, a bigger keel will be a big benefit if you want to race; I have a shallow keel, and can't point nearly as high as deeper keel boats.
Wheel vs tiller gets folks all emotional. On a P27 with a tiller, if you have more than 3 people they sometimes need to get out of the way when you tack (not a lot of room in the cockpit). Other than that, IMHO on a smaller boat a tiller gives you a better "feel" for what is going on, the wheel is easier for beginners.
One-speed winches are fine on a smaller boat; self-tailing is nice, though.
Dunno about the Cat27, but the Pearson's tend to have nice big lazarettes!
Good luck in the test sail/inspection...that'll probably decide you there. And remember, it is a buyers market.
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