VT,
I suppose that is another option. What looked like a manual valve body may have been a malfunctioning one. The tranny has been pulled a couple of times. Most recently we had it rebuilt with a 2,500 stall and shift kit. When we had it running for the first time since '87, she didn't shift automatically. The guy that rebuilt it built a second valve body for us. In replacing it, we found the dates on the valve body in it. Indications are that it was run pretty hard in Montana in the 80's, lots of frame bouncing, etc... Original oil pan had been damaged and rewelded, likely had the tranny pan also replaced with a 70 pan at the time.
Matt