1977 904 horsepower limits?

yes, built they do well. Perhaps list brand/part number for the clutches/bands you are talking about incase the op should decide to freshen up the 41 yr old tranny?
Not sure on part numbers etc... we used a local transmission shop to build the 904 a little stouter. A decent transmission guy knows 727s and 904s. I’m no transmission guy I just tell them what I need and they try to get me there. Lol