I have been around the block on this and have THIS to report:

High stall converters and taller (Lower numerically) gearing do result in excessive slippage, sorta negating the advantage of the taller gearing. I ran a Gear Vendors overdrive with a 3.91 gear, 28" tire and a slippy 9.75 converter. Not fun. The car felt lazy at freeway speeds, like a boat in the water in terms of part throttle feel. The combo was fine for wide open throttle, it just sucked for everything else. I don't care to drag race, I enjoy distance drives, cruises, cornering on twisty roads and such.
I eventually sold the GV and went with a 3.55 gear and an 11" converter that made a huge difference in how the car feels. I really like this combination.