I just sit back and laugh at the guys that bash the 700r4 trans and even try to say that the th350 is superior....thats just someone who has a th350 and wants a 700r4, but can't do the swap. You can rebuild the th350 all you want, but it still wont be a 700r4. The 700r4 not only gains better mileage, is more reliable and will out perform the th350 when properly built. If you plan on installing a big block, then no, the 700r4 isnt your right choice. The overdrive is a plus right out of the box, even if you don't always use it, you have it. I personally like the shift points of the 700r4 versus the th350, especially from 1-2. If you plan on drag racing, or road coursing your square, then obviously neither of these transmissions will be sufficient. My build is for cruising and the occaisional daily drive. I have had 3 th350 transmissions in previous squares. The last 2 squares (both 2wd) had mid built 350's and the transmissions were worked, rebuilt and rebuilt again. Neither transmission ever shifted to my liking or held the power. Both th350's were built by the same transmission guy that has always done my work. With 35 years transmission experience, a former drag racer, fellow square owner I trust his judgement and extensive knowledge. After removing the th350 and swapping in a 700r4, I wouldn't even think of going back to one.