How to sell/describe this gun - my opinion
Using a percentage rating should NOT be subjective. It should refer to the amount of original finish remaining on the gun without damage, discoloration, etc. Think of the gun as a piece of graph paper, then deduct for squares of the graph that are damaged, etc. Jim Supica illustrates this really well in his book. This is an objective exercise, not subjective. The "subjective" thing is if the person describing is too lazy to add a few descriptive lines to help flesh out the overall condition, or just relies on "good," "very good," etc. and nothing else. Numbers aren't subjective.
I don't know if you are just curious about grading it, or whether you are thinking of buying it or selling it. Let's assume you are selling it. If I were writing an ad to sell this gun, I'd describe it like this (I am going to make some assumptions about details you can verify, but you get the idea):
S&W 27-2, 8 3/8" barrel. Lightly used wit nickel finish in 99% condition, thin turn line to cylinder. Excellent bore. Target trigger and hammer with vibrant case coloring, target Goncalo Alves foot-ball relieved stocks showing only minor case rub on one shoulder. Wood oak presentation case with intact liner and tools (rod missing) in excellent condition. Timing appears correct, b/c gap at .005", no detectable endshake (or, .001", etc).
$875.
In this description I've assumed there's nothing I can't see - and anything there is lint, etc., and will polish out/clean up. Before I took photos, I'd:
1) clean it very thoroughly, it's a bit dirty
2) lightly polish the flats to remove the handling handling marks
3) wax the gun (I like Renaissance)
3) Remove the stocks, make sure there's no pitting or anything to the nickel on the grip frame (disclose it if there is, of course).
4) Wash stocks with dishsoap and a toothbrush, dry, then dress with a little lemon oil or similar. When that's dry, then a coat of wax
5) Try to find the cleaning rod to make it complete
6) if under the liner all the paperwork is there, photograph it, also, and note that it is included.
7) take some acetone and remove that fingernail polish or model paint from the front sight.
If you don't know how to check b/c gap and endshake and check out the mechanicals, read the Jim Marsh sticky and learn to do it. None of the steps above are to hide anything, but just to make the gun look it's best, or to make sure there's not damage the buyer will find I missed and be really angry (e.g. - like looking under the grips).
Tip: How to take off grips: Hand fit grips like these can be very tight. Unscrew the screw from the left panel 4 to 6 turns. While it's still in the nut on the other side, WITH YOUR FINGER, push the screw head hard enough to "pop" the right panel free of the frame. Remove right panel. WITH YOUR FINGER, poke through the frame R to L to pop the left panel off. This prevents damage to the grips or frame from screw drivers slipping, or prying against the frame. It's really easy, just get in the habit of doing it that way and you will prevent damage at some point.
Overall, this gun looks like a very lightly used queen that could fetch top dollar with a little maintenance and prep for the sale.