take it from me (a guy who owns one), if you are gonna run 3.40 gears, don't use the 700 and if ya do, don't be surprised when your fuel milage sucks.
lugging down the road at 1800 rpm when the engine isn't designed for that rpm just eats gas...
got a 48 chevy coupe with a 350/700r4 and 3.25 gears....
picked up some 4.10's, that'll help;)
