I'm not going to be much help to you either as far as what's wrong with it, but from my experience with the Cougars, T-birds, and 'cheros of that vintage, I can tell you this: It more than likely has an FMX transmission in it. If it's a 302 or a 351W, a C4 would probably fit it, too, although I definitely would want an auxilliary cooler on a C4 in a heavy car like that - especially if you want to use it like a truck. Maybe this will at least help you scrounge for parts or a replacement ahead of time. Sounds like a decent deal.