Finally getting back to this. I pulled the tranny, pulled the torque converter. Took the converter to local tranny shop. Got an impartial opinion. He had the mentioned "tools" and did the above testing.

We could both tell that the converter was shot. It was free wheeling in both directions, it rattled a lot too, the innards could be moved about 1/2 inch either way.

So, I bought a new converter for 215 and a front seal for 7.99. Just finished re-installing the tranny (except for tightening the flexplate bolts and clicking in all the lines and electrics. The transfer case also needed a look, so I popped the case, checked the chain etc. The inside of the T-case looked brand new, all shiny, seals looked good, replaced input/output seals. So, crossing my fingers when I finish it up so I can head out on my annual Cascade run.

Cheers.