727 question

... I found that the 78 is a runner and has not been out of the car long. This is for use behind a mild stock 440

I'd bet you could replace the gaskets and seals (all of them), adjust the bands, change filter and fluid, add a 10 3/4 torque convertor (flush it to make sure it is clean), bump the pressure, and be good for the next 200K miles.