To adjust the L/R band the pan has to come off. There is a procedure for adjusting it that I do not have documentation for.
But I can tell you how I do it.
I find the adjuster, back off the lock nut, and with a really small,short wrench, I just run the adjuster in until snug. Then I back it off until there is about 1/4 inch motion of the apply-arm, and lock her down with the nut. That band will run with more clearance and with less. If there is too much clearance, you might have a delayed engagement. If there is less it might really BAM! going into gear. Also with less clearance, the 1-2 shift-overlap may become an issue. Overlap causes the nose to drop during the shift, because some of the engines power is being used to fight the shift; the trans effectively being in two gears at once, with second applying and first releasing.
I have found the 1/4 inch spec to work well for me without respect for what car the trans is in, and it's easy to remember.
The pin you are clearancing, is part of the Low/Reverse servo assembly. The pin is steel, but the body it is installed into is aluminum. That part is a known weak part when the pressures have been tweaked for racing or high-performance. They crack, split and/or turn sideways. So check yours while you are in there. I don't think you can get it out of the bore without removing the band anchor-pin. But the crack/split should be obvious if it exists. Yours won't have rolled cuz then you lose reverse completely. And yes I have seen pictures of the lip seals blown, but have not personally seen it, although I haven't built that many myself either, perhaps two dozen.
