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I did that over the weekend on a TH350, first timer doing that and there was a lot of gray thick almost grease consistancy crap in the pan. what the hell was that crap. No metal..
A 700r4 with torque converter and cooler holds around 11 to 13 quarts of atf. I use valvaline for all my oil, trans, gear and grease. I also use the Felpro rubber gaskets for the pan. Can't stand the cork and paper gaskets, always seem to leak after a while.