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Picked up a '74 base coupe with the non-original motor. The engine ran well but the transmission wouldn't shift out of first gear. The body, interior and frame appeared to be in good shape just in desperate need of cleaning. There are some other under hood shenanigans going on like the complete A/C system missing, "upgrade" to HEI but the tach wire isn't hooked up, and the heater core is disconnected.
After some reading on the transmission, I installed a new modulator but no joy. Next I was going to pull the governor but that looked like a project I didn't have time for at that point so I disconnected the kickdown wire. Transmission shifted like a new one so that was a relief! I'm guessing I need a new kickdown switch for the gas pedal. Also while up on jackstands I got a better look at the undercarriage. It's actually a little better than I thought and appears to be fairly rust free except for a bit of surface rust. I won't know for sure until I pull a kick panel but so far it appears to be pretty clean.
Next project is to get it cleaned up and a good assessment of what all needs done. At least the headlights and emergency brake worked on this one!
T400. There is a kick down switch at the throttle linkage. Fires a solenoid that releases a check ball in the valve body holding it in a lower gear. I pulled solenoid off the valve body and the check ball it actuated was out of place causing it to not upshift to 2nd till about 45 mph. Never hit 3rd. Put ball in place and trans shifted correctly. This was on a 67 Catalina but pretty sure same trans