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I have an '87 f150, 302, C6 transmission. the transmission shifts perfect on the way up, does not slip or render any other problems under a load or not. The problem is when it is idling to a stop, no brake use, when it slows to around 35 mph the tranny seems to go out of gear until around 25 mph. If i continue to stop, I have no problems taking back off. If I give it gas to resume speed between 25-35 mph then it acts like it jumps back into gear. While not a violent jerk, you definitely feel it go back into gear. You can hear the engine rpm go down to idle during this speed range also. This is also an intermittent problem.
This past summer I changed the fluid and filter thinking this might cure the problem, but it did not fix it. The problem has not gotten any better or worse in the 4 years I have had the truck. I just have to decided to delve into the problem more if it is an easy and relatively inexpensive fix. If it is more involved and costly, I may wait until it goes out and rebuild it or buy a reman.