When the converter is all the way in the trans. it actually sits about 1/2-3/4" below the front end of the transmission bellhousing. If you look at the back of the engine you'll notice the flexplate sticks out. The converter has to be at least as far in below the surface of the bellhousing so it won't bind up against the flexplate and crank. When you put the trans up in place and start to tighten down the mounting bolts to the engine you'll know if the converter is all the way in cause it'll spin freely until you install the converter flexplate bolts. Keep checking it as you tighten the mounting bolts cause it's easy to break the front pump as was mentioned earlier. Sorry if this is repetitive but I figured it might help.