-hh once bubbled...
Third, if you're diving in coldwater, 27lbs of lift is either going to be just barely sufficient, or insufficient. It depends on your individual bodymass, thermal protection and resulting weighting needs, and if you want to be able to have your nose be lifted clear of the water. Personally, I'd recommend at least 35lbs if you have any coldwater diving requirements.
-hh
I'm fairly familiar with New England diving because I live there. I use a Halcyon BP&W for all of my diving, from the Carribean to the St. Lawrence.
Generally, you should not have a problem diving aluminum tanks in a Pioneer 27.
If you're using heavy steels, you should consider a Pioneer 36. The extra lift is just the ticket for tanks such as the new 119's, 130's or, in my case, older HP120's.
That said, I've seen a number of divers using the 27 with steels. I've supervised some of these divers. I have not noticed any problems.
Your shop should assemble the BP&W and fit it to you. This takes about an hour. When I do it, I ask the diver to bring their exposure suit with them so that I can fit the rig while they are wearing the suit. Start to finish takes about an hour, although it can be done faster if the diver is in a hurry.
Finally, while its absolutely true that jackets are not uniformly bad, I can say that I've tried jackets, back inflate BC's and BP&W's. I strongly prefer the BP&W for all of my diving. The rig is streamlined. The tank doesn't tend to shift around and it is quite comfortable. The plate distributes the load of the tank(s) across your entire back, which, IMHO, results in less fatigue. Overall, I find it to be a great system.
I currently own three wings (18, 36 and 55) and two SS plates (one for singles, one for doubles). I've probably fit several dozen new divers with BP&W's. So far, none of them have come back, even though the shop where I assist has a 100 day return policy on gear.