Re: Trying to do the logical thing.
I have a '92 700R4 with 3.08 gears and love it. It was rebuilt with a new older valve body version and a hydraulic lock-up kit, so no solenoid needed. On the interstate I can run 70+MPH at under 2000 RPM. If I'm tooling around locally (<50 MPH or so), I just drop it into "3" to keep it from going in and out of 4th. I have a spare rear end housing that I would like to build as a posi, and may lower the 3.08 gearing to 3.42.
Later 700R4s are recommended as they have better 30-spline input shafts and other improvements over earlier versions.
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1967 C20, 350 SBC w/Comp roller cam, 700R4 w/3.42 posi, PS, 4-wheel PDB, Old Air AC & GM Tilt column.
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