Most of the type rating programs I've seen run 80-100 class room hours with 6-7 sims and some fixed base training time thown in. For a long time, type rating courses had you "build" the airplane. The FAA has come to realize that if you can't do anything about it, there's no reason to worry about it. For example, there are 3 temp sensors that will cause a pack trip in a 727. You can read two of those temperatures on the F/E's panel. Do you really need to know what temperature sets off the third sensor? I spent 15 minutes one day with a FAA inspector discussing which bus powered a warning light, even the other two Feds in the room were shaking their heads. Light comes on, it's telling you X, the checklist will have you do Y, next question.