In a 727-200, 31000 ft at 80 miles from AKL should not pose a problem at all. Even with a tailwind, use of the spoilers (no need for gear in this situation) should get him back on profile by about 40 - 50 miles out.
Also, some 727's have the 245/230 speed limits for flaps 2/5, while others have a 230/215 limit. Either way, being 4 miles out and still at 250 knots is a problem, because with flaps 2 you can no longer use the spoilers, so your only other option is to drop the gear. With only 4 miles to go, you are now painting yourself into a corner with regards to getting configured and on speed in time. Normally you should be fully configured and on speed by 1000 ft and 3 miles.