Ran a 350 tranny in my '37 pickup for a few years but later put in a 700R4 and the pickup just loves it!!
Currently I'm having a 700R4 built to replace a 350tranny in my panel. I vote 700R4.
Note, my tranny man likes the later model 700R4, meaning AFTER 1986 or may it was 1987. He explained the difference but I will not attempt to repeat here so I don't confuse anyone. IF you go to get one be sure to do homework so you'll be able to tell "by the numbers" which is which.
The one I have is an earlier version and I should be just fine. But, if you have a choice then go for the later model.
...just my thoughts.