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I'm interesed in what sort of ftlbs can be put through a 904 that has steel planetaries and a Continetal 3500 stall converter?

Will it hold together if the engine makes 400 ftlbs?

And what about 450 ftlbs?

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Yes...

And yes...
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I did a budget 904 for a buddy about 5 yrs ago to get him by till he got the cash for a "good" trans - built from a bunch of my old stuff. Early small servo case, alum planets, 4 clutch forward/direct drums. I did use good clutches/band, a 5.0 arm, and a swap meet 10" T/A converter and Cheetah V/B. It has been in his mid 12sec Duster (on drag radials) for 5 yrs with no issues and he has never even considered another trans. With steel planetary sets the 904 is good for 600hp when built with the right factory parts, good wear items, and a good valve body.