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seriously i cant understand why truck makers would put a gas motor tranny behind a motor still is beyond me but i lol checked my fluid tonight and well i wiped my fingure down it and my fingure turned grey!!!! sooooo im presuming thats not good and did it 3 more times and more grey stuff came out soo im callin the tranny place tomarow morning and gettin it all ready to get rebuilt cuz im just not gonan play around i want it beefed up neways soo i can get more power outta the motor
"behind a diesel motor" i mean seriously a 5.0 liter gas has like not even close to the power of a turbo diesel... i mean my truck will beat a bronco i know if not keep up with it wieghing what 2000 more lbs what were they thinking??/
They did the best they could with what they had to work with. Every year they made improvements on the internals of that particular tranny. If you get it rebuilt make sure they upgrade the hard parts to 97 specifications. It will add $1,000 to the cost of the rebuild but you will be able to then generate a lot of power and the tranny will last if you care for it. Get an upgraded torque converter, too. Normal E4OD rebuild $2,200, recommended rebuild $3,200. That includes a $500 TC. Better yet would be a $1,000 TC. Or call Bryan's and get a bullet-proof unit.
For now, if I were you I would drop the pan and see what it actually looks like in the bottom. If there are no chunks, drain the entire system(including TC), add Sonnax valve upgrade, new filter, new fluid and then add an oversize cooler and see how she does.