snikr
Hello & Welcome to the Forum.

In answer to your question, Yes, but...
with the O-27 curves you will want to stay with  x-4-x or x-6-x with blind driver, wheel configuration.
O-27 is a bit tight for flanged center drivers , not saying it can't be done, but wheel and track wear as well as binding can occur.  Deciding on which locomotive, pre war, post war, MPC era and modern give you quite a choice, but will possibly be best if you choose a locomotive that operates conventionally, that way you won't have to purchase a new operating system transformer if you have an old style transformer.

Happy Rails.
Dave