I had a 96 v8 grand also. About 2 months after i got it, the tranny went. Got it rebuilt for around 1400 with a 1 year warranty. Shortly after the warranty was up, the tranny went again. This was a stock truck. My wifes DD. Not off roaded or abused. No reason the tranny should have went. We got rid of it instead of fixing a second time.
If you really like the truck, get it rebuilt and hope for the best, but if you're not attached to it prob better to move on.
just my .02 and also, Hi everyone! this is my first post!