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Help - Identification of Torqueflite 727 bolt

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Hey there! I've got a pickle of a problem and I was hoping someone here could help me. I'm replacing a Hurst cable shifter in my 72 Charger with one of those thick brass shifters from American Shifter. I got under my car last weekend to install the brackets that mount to my transmission and I noticed they wanted me to mount a bracket near a return line.

Seeing as I'm renting my garage space, there's no way I'm going to needlessly risk getting AT fluid all over my neighbor's garage floor without confirming just exactly what I'm removing. Here is the bolt in question I'm supposed to remove: http://i.imgur.com/K1kutpM.png

The original "bolt" on my trans looks like an adjustable drain plug, but I'm not sure. To be frank I'm a bit intimidated by transmissions and the possibility of permanently putting my car in "park" - if you know what I mean. Would someone please help me identifying this bolt? Is it safe to remove without a major AT spill?

Thank you!

- - - Updated - - -

Of course I just happen to stumble across a viable lead just moments after posting this. And I've been searching online for the last few days! Anyway, here's what I found: http://i.imgur.com/SoZ3IAc.png

Apparently this screw might be there to adjust the kickdown band. Can anyone confirm this?
 
You just remove the kickdown band adjustment bolt. Be prepared to drop the pan and put the adjuster linkage back together and adjust the band. Also I have never seen a 727 with a case shaped like that. What is the big vertical hole behind the backup lamp/neutral safety switch for? Does it go threw the case into the trans or what?
 
You just remove the kickdown band adjustment bolt. Be prepared to drop the pan and put the adjuster linkage back together and adjust the band.

No can do. That's outside my scope of experience. Much appreciated on the information though!
 
I guess I don't understand this whole setup. Why not use a cable shifter? I've used both a BM prostick or whatever it's called, and now use a Cheetah. Both use cables, both work well. I didn't like the BM because it's too "fiddly" on the street. In an emergency, getting it quickly in/ out of reverse could be a problem.
 
Why not use a cable shifter?

Heat from the exhaust causes the insulation from the cable to stick, or even worse, the insulation completely melts, letting the inner shaft burst out.

I would rather have a dedicated bolted-down brass rod actuating the shift mechanism rather than take my chances with getting stuck out in the wild without the ability to change gears when the insulation to my cable shifter melts again.

I've already replaced one cable. When I installed the new cable, I wrapped parts of my exhaust headers and even covered the cable with fiberglass insulation. I went for a little cruise (about 15 miles in hot weather) and noticed the new cable was already sticking and giving me some resistance when shifting gears. Unfortunately, the way my headers and everything else are arranged, the cable has to run directly underneath the exhaust ports in order to come back and get a straight shot back at the transmission.

You're right though. Shifter cables are pretty easy to replace. I'd just rather not get stuck again.
 
That's 2 nd gear (kickdown) band adjust. It's a stud that goes thru trans case and correctly adjusts the band. It has a locknut to keep the adj. stud in place. I'm assuming the pic you show is from the shifter co. Really love those half baked instructions. You can't replace the adj. stud w/ a bolt and they shouldn't show a pic like that. What you could do is carefully remove the locknut ,being careful not to turn the stud, and put the bracket that is shown in the pic over the stud then replace the locknut. That is if there is enough stud sticking beyond the locknut. Be sure to use some sort of sealant on both sides of the bracket. There is no pressure on the other side of the adj stud but it can leak. That stud is made of really good stuff and is more than capable of doing the job of holding the bracket.
 
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