Transmission slipping when hot?

Hi All - thanks for the responses.

So... obviously need to do something but the question is "what"?

The fluid does not smell burned and looks nice and red, both on the dipstick and dripping off the bottom of the bell housing (it has always leaked).

There is no slippage when the car is cold or cool, only after I'd been actually racing. I also got it to slip the previous weekend when I was practicing on the highway: dead stop through all three gears, and it only slipped a little between 2nd and 3rd on my 6th "run" (so after 5 runs). This is what made me think it was heat-related.

If it is a torque converter issue, is that something that I can rebuild, or should I buy another one?

If it is inside the transmission, can I rebuild it myself or am I looking for a world of hurt?

Transmission guys around where I live (north of San Francisco) are very, very expensive and one guy won't even work on the tranny unless he takes it out and puts it back himself.

I could buy a rebuilt 904 with torque converter for around $700 from a sort-of local guy who claims to be a retired transmission guy who now rebuilds mopar in his retirement. He sells transmissions on Craigslist.

I could buy one off of Summit but they seem to only have TCI in my price range (as little as possible) and there is no end of questionable reviews in the TCI department!

Obviously, this is an expensive thing to do. But I got into it to learn how stuff works and ended up really wanting this car to tool around in and race once in a while.

Thank you much!
- Trevor


p.s. the problem with "low" was a linkage issue. The shaft was bent funny and we got it straightened out - now can shift the car into all positions.