I have no Park when I put my shifter selector into P. Reverse works as well as Nuetral and all the drive gears. I've adjusted the selector a few time now but the same thing happens all over again.
I have a B&M Quicksilver with Reverse Manual VB in a fresh 727.

possible it is the wrong parking pawl rod connected to the valve body. will it lock in park with the shifter disconnected at the trans and you manually move it to the park position.

Yes it will lock in place when manually shifted into place. I should mention after I re-adjust the linkage it works well until it warms up. Then the shifter gets sluggish and harder to shift forward and back.

how close is the shifter cable to the exhaust sound like you need to re-route before you burn up the cable many people have good luck

It does run very close to the headers. I have the heat sleave stuff sheathed around the cable. Don't know if it's helping or not though?