5 Speed swap

The slippage from a torque converter gets pretty complicated (or I guess, more complicated) when the output side is spinning. The stall speed indicates the max RPM difference between the input and output when the output is stopped but that doesn't mean there isn't still slippage between the two sides once the output starts rotating. The slippage rate is proportional to the difference in RPM and load/torque between the input and output. The slippage is at its max when the car launches then decreases as the car accelerates but never fully goes away; once the transmission shifts to the next gear and the output side drops in speed and increases load the slippage increases again. So basically that difference in percentage of slippage between the top of the first gear and bottom of second gear will reduce the RPM drop somewhat compared to the drop in a manual transmission. Also the momentary spike in load on the output side as the gear change occurs reduces the initial engine RPM drop a bit.

Agreed that a TC (without LU) will never be 100%, but it still seems to me that any RPM above stall isn't going to slip beyond that. And if stall is at max resistance, WOT is never going to see the same load since the car is moving.

I'm no TC expert, much more of a manual guy, so I am just guessing.

With a manual there is zero slippage through the clutch during a gear change, IF it's performed correctly. There can be some slippage due to driver technique (back on throttle before clutch pedal is fully released), if the clutch is too weak to handle the rotating inertia of the engine or if the engine spins down too slowly and doesn't match the trans input shaft RPM before the shift is completed.

Yeah, I thought about that wrong. Even if there is clutch slip and the motor isn't freewheeling, it would only result in the RPM's dropping slower than they would without slip. No RPM flair like I was thinking.