you could pick up some eighth inch cranks and a bottom bracket for around 80 bucks.

27" "mags" are pretty much a no go. you could find some 26" mag looking wheels but they're not going be quality wheels. 26" wheels are also going to lower you're bottom bracket and change the feel of your bike a bit seeing as your bike is made for 27".

you could probably convert to 700c wheels and not have the ride quality effected too much. if you want to stick with 27" wheels, i'd pick up a sun m13 II in 27" and lace it up to a fixed/single speed hub. it's a quality rim and will look much better on a conversion then some mag type wheel.