I think Horseshoe Curve has it right. That layout was purposely sparce of scenery and other typical touches from Lionel as it was made to demonstrate the 'magic' of Magne-traction. It was usually sent to dep't. stores or the like with a low-end steam loco w/Magne-traction trailing a few specially-painted small gondolas (also seen as major collector items by many). The train would disappear into the tunnel, go down, around and come back up in about a 10 or 12-foot loop "magically" reappearing to the stunned amazement of those who were easily stunned and amazed.
One oft-discussed point is whether or not original Lionel items can stand re-organizing and still remain Hot items for guys with a loose appreciation of their money. So-called purists are losing their grip on what was once a very hot and attainable market for special items. Many or most of those items have been absorbed and are off the market, leaving either financially unattainable ‘special’ items for the very rich or very irresponsible, or items that are not mint, like-new or even excellent. Slim pickin's. Now, seeing as this is at least somewhat true, what is wrong with people being able to pick up items that are less than top shape?
Over the next few years as we boomers start to fall off of the planet in ever-increasing numbers, there will be more of these treasures, whether or not big-time collector stuff, or simply used (actually loved by humans?) Lionels coming available. But, seeing as we are all nearing a best-before date, who will have the history and early experience driving them to pay massive monies for, let's face it, kid's toys from another era?
Someone should enjoy that D-27 layout as it is, or as HSCurve has put it, restore it with the lower level. If you can do a great job of restoring it, someone may offer you major bucks or be willing to restore it themselves, but to a purist, the guys who only buy low and sell high, it is a done deal. It will never again be original, just like a vacuous soul that is unable to understand joy for what it is if it doesn't come with a big dollar value (only for them, mind you) at the end...Just sayin'...