What is it? (Chevy edition.)

This is a 400CI Chevy small block. Auto trans unknown. It seems to be a three speed as the car runs 3K on the hwy in the slow lane.

To me it looks lile a kick down or line pressure something.

I would like to,

1. Know what it is and what it dose.

2. Make it go away.


So, who wants to admit they know about Chevys?

Oh yeah the car is my 63 Nova.

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Thanks for all the time and advice.