Maybe try checking the fluid pressures ?...that might help pinpoint where the fault lies..
My automatic trans experience is limited to filter and fluid changes,but I have had luck reviving a few--one TH350 I had in a parts truck I bought with a "blown transmission" did much like your symptoms,no forward or reverse and for a few minutes after a cold start it would try propelling the truck but slipped badly..
After checking the fluid,which was nice and pink and smelled fresh,I went to take the pan off and found a valve body bolt lying in the bottom,several others were loose and backed off..when I put the bolt back in and tightened the rest,the transmission worked again..!
I bought my 81 G-10 pretty cheap when it was only 9 years old when its transmission started refusing to go into third,then it started taking off in first but refused to upshift out of second gear ,and go into third--finally all it had was reverse and first gear,but it never slipped....it turned out to be just the nylon govenor gear was stripped of its teeth..
I put a used govenor from a junkyard trans in it and I put over 40,000 miles on it..
A friend with a 700R4 told me he lost "all gears" and had to be towed in to a shop--they did a pressure test,found it wasn't correct, and found the valve body gasket had blown out in one spot,also said the pressure regulator valve was dirty,the screen on it was blocked up with some crud..
He lucked out,for 150 bucks they got the transmission working,and its held up so far..the shop admitted though,most of the time a 700R4 comes in "broken" it has internal parts cracked or burnt up..
I often wonder how many transmissions that fail without any noises or evident damage,end up just being scrapped ,without an autopsy being done to see just which thing failed..