727 stuck in third

Update time:

I did make a video, but I felt ti really wasn't much help in the end. I can describe better than what would be shown there. I did make several tests and I'll share my findings:

Park: Works fine, no straining or anything odd.

Reverse: Works fine.

Neutral: it doesn't try to drive or creep in neutral, although I have the vague impression that it doesn't roll totally freely in neutral.

Drive, manual second, manual low: All behave the same as if there is third gear only.No binding.

My impression is that there is immediate, firm clutch application upon selecting drive, then a second later it goes into third. In other words it feels like it's selecting drive low as it should, then whatever is happening, happens.

The fluid looks good and there's no evidence, and I mean NONE, that there is clutch material circulating in the fluid. I did the paper towel test and it looks great.

I took a much better look at the transmission and it looks to me like it's been out and gone through in the last 20,000 miles or so. There's a big difference in the grease level on the engine block and that on the trans.

There's a tailshaft gasket that doesn't look factory and a cork pan gasket that's old enough to crumble when touched, so it's not had a recent fluid dump. The PK number comes back to the right 727 for the application.

My feeling is something broke instead of it burning up. What, i don't know but I guess I am resigned to having to pull it.

I will do the pressure tests, thank you for that info.

Tyler