Hey all,

Sounds like the torque converter has broken the ears off of the hub, and most likely taken the pump gears with it.
Here's a little test to determine if that is the case...
Let it sit overnight, or at least all day(like it's going anywhere now, anyway!). Before starting it, pull the trans dipstick out, and note where the level is on the stick, and wipe it off. Start it up, then put the stick back in. Let it run for a few seconds, then pull the stick out, and note the fluid level now. If the fluid level is the same now as it was before starting, the pump gears have broken. If the level is now down to "normal", there is most likely something else that has broken inside.

Chances are, if you were toolin along at 90mph, the tc pulled out of the pump gears just enough to break the ears off the gears. It happens a lot, as the flywheel flexes some while driving, and at higher rpms, the fluid pressure inside the trans will try to push the tc forward, towards the engine. If the flywheel flexes enough, then the converter will come out far enough to damage the gears.

Another possibility is the bolts that hold the tc to the flywheel have all come out, and now the converter is not turning at all. If your fluid check test reveals the fluid is not going down with the engine running, take the dust cover off of the trans, and check the converter bolts...there are three of them. They can all fall out, believe it or not. If that is the case, then you can just install new bolts, and keep on truckin!

btw...Welcome to C3VR! Adams' Apple2007-09-17 05:11:39

Thanks for the thoughts! Guess I'll do the fluid test since I won't be going anywhere soon.

Apple,

Lemme ax what may seem like a silly question...does the speedo move when you put it in gear? Your post only says the shifter will go into "Park", but does the car actually have park? If the speedo moves, and there is no park, you may have a busted diff, or stub shaft.

If it do have park, but it doesn't move at all, and you heard a loud "pop", then something bwoke. Could be the input shaft, or it could even still be the torque converter. In order for the trans to not move at all, the input drum would have to be not turning, either because the shaft snapped, or the stator or turbine splines in the tc stripped. Could also be the output shaft snapped... I don't think it's gonna be anything that can be fixed without pulling it out, anyway.
Does it make any unjujual noises now when you put it in any gear?

Regardless, it's a 350...not exactly the most expensive trans in the word to fix. Normal O/H should run in the $200-$300 range, max, if you pull it and have someone build it. If there is a lot of hard part damage, it may run a bit more, but still not enough to start thinking aboot a swap to 4-5-6 speed.
Shoot me a P/M, and I'll see if I can find someone in your area to fix it up for ya...or...box it up and send it to Texas...

That's an offer you ought to consider. 

No movement or weird noses when shifted. Guess I'll gear up for the pull and will post more once it's out. Thank you very much for the offer of finding someone to build or to do so yourself. I will update with progress reports. As the winter is on it's way here in Colorado, not sure what the time frame is, but not gonna be driven much this winter anyway.

If you have the time, these are easy trannies to rebuild.  There is a great Haynes manual that you can get that will walk you through the steps.  in my area I go to a place called "Whatever it Takes" for parts.  They have complete rebuild kits.  While you are at it you can upgade the tranny clutches and parts to higher performance parts.  Lots of stuff available online to make these into very solid performers.

Dude,