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My new 700R4 has a universal type TV cable, and I really dont like the method of adjustment. There is no detent action for automatic adjustment. It is all in your finger pushing of the cable slider and then locking it down when you "feel" you have the right position. I dont have the pressure gauge, so I'm not using the gauge method of adjustment.
I may replace it with my GM style original from the 1991 rebuild on my 700R4. It looks newer than 1982 and is in pretty good condition and looks newer.
If you open up the transmission side of the TV cable, will you be showered with 10 gallons of tranny fluid?
No, if you remove the cable from the case you will not overflow fluid. That being said, there is not much room in there for your fingers to get the bolt.