NMAC BTWN A B727 AND A C172 NEAR 2000 FT 8 MI W OF SFB; FL.

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DURING INITIAL RADAR VECTORS FOR ARR TO SANFORD; FL; ORL APCH ADVISED FLT X. TO TURN R; HDG 270 DEGS; MAINTAIN 3000 FT; RADAR VECTORS FOR ILS RWY 9L. FLT X ACKNOWLEDGED AND PERFORMED AS CLRED. ATC SAID TO FLT X; MAINTAIN 2000 FT. FLT X ACKNOWLEDGED AND CONTINUED DSCNT. ATC FLT X; SAID TO TURN L; HDG 180 DEGS FOR VISUAL APCH RWY 9L. FLT X FLT X SAID REQUESTING RADAR VECTORS ONTO THE LOC FOR THE ILS RWY 9L. ATC ANSWERED TURN R HDG 230 DEGS FOR THE ILS APCH RWY 9L. FLT X: ACKNOWLEDGED AND PERFORMED AS CLRED. (AFTER A COUPLE OF MINS) ATC FLT X; SAID TO TURN L 180 DEGS; MAINTAIN 2000 FT. FLT X ACKNOWLEDGED AND PERFORMED AS CLRED. (DELAYED ON THIS HDG UNTIL WE PASSED THROUGH THE LOC.) ATC FLT X; TURN L; HDG 070 DEGS TO INTERCEPT THE LOC. MAINTAIN 2000 FT UNTIL SEMCO; UPON INTERCEPT; YOU ARE CLRED FOR THE ILS APCH RWY 9L. DURING THE CAPT'S READBACK; WE RECEIVED AN RA; ALARMING US OF 'TFC; CLB.' WE INITIATED A CLB AND; ALMOST IMMEDIATELY AFTER; APCH CTL DIRECTED US TO CLB TO 2100 FT. I STOOD UP FROM MY SEAT TO GET A BETTER VIEW BELOW US AND STATED THAT A SMALL ACFT; WHICH LOOKED LIKE A CESSNA; WAS PASSING DIRECTLY BELOW US. THE CAPT TOOK NOTE OF THE SEPARATION INDICATED ON THE TA/RA; WHICH READ 300 FT.