VG to me means some wear on the high points and muzzle, no dings or scratches. I don't worry about the wood too much since that can be fixed or changed easily, although not cheaply these days.
If it has box, tools and papers that's always a plus.
The 4" barrel M-27 was produced in 1979 - 1980, so not that many out there, and they are getting more expensive almost monthly. If the one you are or will be looking at is in the shape you think is BUY IT NOW.
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