Am I Crazy to Try This?

Torqueflites are very simple transmissions. When I was 17 in high school shop class I pulled one out and rebuilt it and it worked fine. Until that point I had never seen the insides of a transmission. I suggest getting a manual and reading through it first. ATSG markets a rebuild manual that mimics the factory service manual with a few extra helpful tips. Very good investment. Here's a link to the place that sells them,

http://www.bulkpart.com/Merchant2/merchant.mvc?Screen=CTGY&Store_Code=2&Category_Code=A904manuals

Oh yeah needsaresto is right about needing a clean place to work and a way to properly clean the parts. The valves in the valve body are super sensitive to dirt/lint/particles, etc. I take my bare transmission cases to the local NAPA to have them pressure cleaned. only costs $15 and saves a couple hrs. work and $3 for degreaser and $5 at the car wash so you can't beat it.