Good afternoon,
I recently picked up a project Z locally. It has a iron block 5.3 mated to a TH350.
I am not a fan of the TH350 as without the overdrive I quickly run out of gear. It seems that the '78 had 3.5 gears already in the back so gearing it down isn't really that much of an option. I am considering the 700r4, and I understand I'll have to cut the driveshaft to fit it but having OD will be way better. The LS has the TH350 already on it so I won't need to purchase any spacers or conversion parts.
The other big thing I'm working through is the PO put a carb setup on it.