Well I just bought a '79 F-150 and I want to change the tranny fluid/filter, but the current fluid doesn't look too healthy. It doesn't really smell burnt, it has a real strong fluid smell, and the color isn't exactly cherry. it still has a little of the red color in it, but it's more of a goldish red, almost transparent red. I don't want to drop the pan and change the fluid/filter and the tranny go out on me a day later. What do you guys think? I know there's always a risk, especially with an older transmission, but as of now it seems to shift smooth I would just like to have new fluid and a new filter.

This is about as good as a pic as I can take of it......