I think you mean 653. Specifically RO653. No such thing as M653, M727, M723, etc. They're not M-designated, even though there are NSNs for parts, uppers and whole rifles.
The barrel profile does look a bit strange. It looks like a very heavy profile. I agree that apart from that, it's pretty close to an RO727. There are rumours of a very small production run of pencil profiled 727s early on, but I've never seen them. Contrast that with the 723, where plenty of them have pencil profiles and a pretty large number have the slightly odd pre-M4 profile with the M203 step down.
653s were ce