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My e40d in my truck 96 f150 has 311,000 miles on it and its never been out of the truck. Its a 302 with a cam and has had 75hp of nitrous through it on more then a few occasions. The money for the controller isnt too bad if you already have the trans which it seems like to me or you can get one that works good. Its $450 and you can set the shifts points and firmness just to name a few things.
Good point, the aftermarket controller does allow you to set your shifts from mild to wild. It also allows for two configuration profiles so you can have one set of shift point for the street and a different set up for off road or performance driving.
Having said that, it does take some time to set it up. A lot of test drives and incremental changes to get it the way you like it. I thought I would use the secondary setting more but for a daily driver I never seemed to get around to trying out the more aggressive settings.
After putting in an E4OD into my '76 i offer the following advice, if you just want overdrive, use the AOD. If you like tinker with shift points and have access to a laptop and don't mind spending the time to get it to perform then the E4OD is the way to go.