I used to have an overdrive on my '2A, but could not use it in a driveline swap (went to centered diff in rear)
I miss having that "in-between" gear.
To compare, at say 55mph, and hit a hill the engine will not pull
OD & 5.38: 2500 rpm, then downshift to 3300 rpm
4.27 : 2650 rpm, then downshift to over 4000
True that the 4.27 will go a little farther up the hill before downshifting, but it is a big gap to the next lower gear.
Then if you consider off-roading, with 4.27 axles lo-lo would 29:1 . . . painfully tall in certain conditions