Well,that sucks...I've taken pans off a quite a few TH400's and 350's and found "some" metallic bits of steel & brass and they still functioned fine after a fluid & filter change,but any sign of metal in the pan is never good..
The TH400 I had in my '69 GTO saw much abuse,I liked to do burnouts and in the rain on a wet road, you could do a one wheel peel for a mile if you kept your foot in it..many tires were spun till they popped on that car!..
One winter day we got 20" of snow and the car was in a field at my sisters house--I shoveled a path to it,and two paths to the rear wheels and tried backing it out thru the gate--ya,right..that car sucked bad in snow,it liked to slide sideways in drive or reverse, instead of move in either direction,even at idle with no throttle!..
I spread sand out on the paths and dumped some under the tires and kept rocking it back and forth--after about 20 minutes the transmission started sounding like a power steering pump that ran low on fluid..police siren type of noise..

..
I managed to finally get it out of the field--the trans whined in the morning like a siren even louder after a cold start..I noticed it no longer went into drive with a solid "thump" any more,it kind of "slid" in now..I feared it was done..
I took the car to a garage one of the customers of the parts store I worked at had--he would rent his lift out to me after 5 pm if it wasn't tied up,so I arranged to take my car there and dump the fluid and replace the filter in the trans,and man,I found about a pound of clutch material,looked like burnt coffee grounds,stuck to the bottom of the pan and the filter..it also .had some gold brass flecks in it too,and what appeared to be a chewed up ball from a bearing or a needle bearing..
I had little hope of it surviving,but went ahead and changed the filter and threw in 4 qts of dexron and to my surprise,the whine noise went away almost immediately after I started it up,and driving it around after revealed it seemed no worse for the wear,it would still chirp second gear and didn't slip at all,I could still bald one tire like it was on ice again..
I drove it another year before I sold it without any problems,and I often used to commute to work 150 miles a day for six of those months with it..I admit I always feared the trans would peuke and leave me stranded after that punishment,but it didn't..
Maybe you'll be as lucky ?...
If not, I'd plan on many other parts besides that sprag being wounded though,the shrapnel usually gets in places it shouldn't and wrecks other parts..