Dan,
Have you ever been inside an automatic transmission (and rebuilt it)?
Do you have access to tools to work on a Hydra-Matic transmission?
Having someone (who knows what they are doing - who has done this successfully) rebuild a Hydra-Matic transmission is quite expensive (upwards of $3000 plus shipping).
Gene at Restoration Hydramatics knows what he is doing. Northwest Transmission Parts says that they sell parts and rebuild kits.
TransPartsOnLine says that they sell parts and rebuild kits.
Autotran says that they sell parts and rebuild kits.
If someone who has rebuilt a Hydra-=Matic reads this, maybe they will post their experience (and words of advice/wisdom).
I have two 1954 1/2 ton Chevrolet truck Hydra-Matic transmissions. I know one works and I know nothing about the other one, except that it is part of a complete drive train I bought about 14 years ago. I found the engine to be useless - a full length crack near the base of the block.
When I get the truck with the good Hydra-Matic running again, if the Hydra-Matic goes bad, I'll find a way to get Gene Berck to rebuild it (the link is given above).