i replace the converter on every rebuild, unless the customer requests otherwise, upon which time they assume the responsibility of possible damage from a faulty or damaged converter.
If the trans was baked that bad, then the converter clutch lining may be damaged as well as the piston seal inside the converter, plus, any debris that entered the converter will be trapped. Converter seals on 700's are prone to failure if the bushing is not staked in, the drain back holes not enlarged, and if the seal retainer is not installed.
Most converter overheating concerns are due to the converter clutch not being locked on in OD, due to bad converter, solenoid, valve, or oring on the input shaft.
700 normal complaints are no third or fourth, no reverse, or no movement at all. 90% percent of all 700/4l60e trannies I repair have these complaints.
If the trans still moves and shifts ok, then run with it, otherwise, bite the bullet and have the trans built right by a reputable shop. It may cost more than a Freeway trans, but you'll get lot's more for your money. Slapping a converter on a mediocre trans will only cost you more money and headache in the long run.
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