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There is no converter drainback valve in a TF, drainback is perfectly normal and a well-sealed trans should contain the increased fluid level.

Normal fluid level is well above the pan and up into the dipstick tube.

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Really John Why would Rossi trans in SO CA say that then I had one stick closed on a maual shift valve body from debris, that flooded the 8 inch race converter and wouldn't let is foot stall properly. Removing the debris fixed that problem