Lots to Consider....
I agree that this site has a LOT of pertinent discussion on this topic.
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You said: "does the sail need to be replaced or modified, any recomendations as to where to get one, make, model, price, etc. "
Short answer is "mostly yes." And, you should discuss this with a local rigger as well as total strangers on the internet....
Going by the year of your boat... You need a new headstay unless it has been replaced in the last few years. Once you cover it up with a furler, you will not be inspecting it again...
Per tests and surveys in PS over the last decade, there are several excellent brands on the market -- I bought Harken, but Schaefer would have been just as good, to name only a couple at the top.
The sail does need to be modified or replaced. The shape needs to be changed for its new duty of being reefed by rolling in some of it. It needs UV protection on the parts left exposed when rolled in.
You will find that most sail lofts can give you a near-irresistable deal on a combo of sail and furler. Not to promote one brand over others, but when we went with a new dacron UK(Northwest) genny and Harken furler in the same package order, I got the fall discount on the sail *and* the price on the Harken was lower than a Port Supply price thru a sailing friend.
This is one of those times where you can really save big by looking at it as a system purchase.
Interesting quote from a local (retired) sailmaking friend -- most furlers will never be taken down again for a real inspection until: the boat is sold or the owner dies, so do it right the first time...
We went for a compromise overlap ... a 135 %... you need to get input from other E-27 owners about what size works best on your model and in your sailing venue. You do not want such a large genny that you are normally trying to roll in more than 3 or 4 rolls as the wind pipes up --- shape of sail becomes too compromised, IMHO.
Best of luck to you, and Fair Winds,
Loren in PDX
Olson 34 #8