It was bugging me cause I felt like I didn't get it right so I messed with it before work. Sure enough there was one more click that I missed. The housing WILL need clearanced as others have stated.
The 200R4 does have 3 "drops". Glad you found it. Be careful about the issue Treblig stated regarding the for and aft clearance of the torque converter and the flex plate. 3/16" is max 3/32" is ideal. once mated to the enging, you can easily measure this be pushing the converter as far back into the trans as you can and measuring the distance between the mounting tabs and the flexplate.
If you are running headers, bolt them up to the engine/trans and make sure they clear your bellhousing. I had to trim mine.
