Just a heads up for you guys. Being a former Chevrolet Technician I can tell you that is a common failure on the early model 700R4. Up until 1993 the trans used a TV cable for throttle input to the trans. In 1993 the trans was redesigned and now has shift solenoids for shift control. No longer does it have a TV cable or Governor. The Governor was for road speed and the TV cable was for throttle input. Now the VSS (vehicle speed sensor) and the TPS (throttle position sensor) are the inputs to the TCM or PCM depending on model year to control shifts. The electronic control module will calculate the proper shifts on variations of these two inputs. The early 700R4 had numerous design changes to make it more robust. But one of the best changes was when it went to electronic shift control in 1993. The line pressure was now also controlled electronically and enhanced the longivity of this trans. I speak from personal experience as we repaired the early model frequently for burned 3-4 clutch plates which is very likely the problem the earlier posters had. At times it was not known just what caused the loss of pressure to burn the plates as there are a number of factors involved. I just came across this site and I see the posts are old but decided to add this note in case someone in the future would come here. Good luck :)