Hi Jim, I'm sure you'd be fine - refer to my
4L60E Video Series on Youtube for step by step procedures plus mods for performance to get a good idea of what' involved. Trans probably needs an overhaul and since it's out, I'd definitely go through it now vs dealing with it after the fact.
You'll need a few specialty tools, including:
- holding fixture (can be bench mounted or adapted for mounting to an engine stand like the one I use)
- Clutch spring compressor(s) - there's a few universal clutch spring compressor tools that will work on all of the return spring assemblies in the 700R4/4L60Es
- Sealing ring expander and sizer - these make the job efficient and reduce the risk of breaking a sealing ring however you can improvise by using a hose clamp w/ the pump cover/stator to size the sealing rings in place once you've got them in their respective grooves on the stator
- Bushing Driver set for all bushings - alternatively you can take the new bushings w/all the parts that take them to a local trans shop for r/r; expect to pay $125-150 or so
- Dial indicator and magnetic base for measuring front end play - keep it between .015-.025
- Feeler gauges for measuring clutch clearance in the forward, 3-4 and reverse input clutch - you can also use a dial indicator in combo with a piece of steel laid over the drum while you put the rev input drum and forward drum on the pump and force compressed air into the applicable feed circuits while you measure clutch pack travel from rest to fully applied (keep your 3-4 clearance between .030 and .050, forward clearance to .030-.050 and rev input clearance to between .050-.070
- Pump half alignment tool - you can use a giant hose clamp from Ace Hardware or Home Depot - then test it on the empty case once the pump is assembled and install the pump onto your torque converter to make sure the rotor turns freely
- Inch lb torque wrench (you prob already have this)
- Torx Plus 50 socket for your bell housing-case bolts - Use a 1/2 inch drive impact and 6" 1/2 drive extension with a 1/2-3/8 drive adaptor so you can more easily remove those bolts from the case; if they still won't come out, heat the case side of the threads with a small propane torch for a minute or so then try again and they will eventually come out
Have the pump resurfaced and pocket cut so that your rotor and slide to pump body deck surface clearance is .0015-.002 (pump rotor needs .001-.0015 and slide needs .001-.002).
Turn reverse input drum .010 undersize to restore band surface then obtain 1/8" longitudinal travel of the band when on the drum and servo assembly installed
Separator plate shift calibration adjustments: Drill the 1-2 feed .072-080, 2-3 feed, 3-4 feed and band release to .093 and low reverse to .080-093 depending upon how often you'll be manually shifting to and out of manual low (if never, leave the feed hole stock size)
There's a boat load of tips/tricks but for now, start watching my vids and post your follow up questions here so we can keep the info exchange going.
OR or you can swap in a Hydromatic