Yes, there's a shift quadrant position that allows you to select direct drive as the top gear. The early 700's had some growing pains. Try to find one for a late 1980's S-10 behind the 4.3 L V6, and have it rebuilt to the Corvette specifications. You'll need one with a TV cable, not electronic control. There's also a firewall-mounted vacuum switch that controls the torque converter lockup, along with a brake pedal disconnect switch if you want to take advantage of all the lock/unlock options available for the TCC system.
Jerry