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Just a tip on installing the lip seals. Get some mylar sheet and cut peice big enough to almost wrap completly around the seal, use vasoline to lube and stick the drum with the mylar wraped around it into the hole. Just push down and it works like a ring compresser. Once the piston is seated pull the mylar sheet out. 
Use only a "transmission assembly lube" e.g. "Transgel" in an automatic transmission. Its compatible with ATF and won't harm seals. Anything else can contaminate the fluid or clutches. A seal installation tool is easy to make from an old bleach bottle or soda pop bottle. Cut a cylinder from the bottle, then cut it lengthwise. Now use a sharp utility knife to cut the edge at a bevel such that the sharp edge won't be in contact with the seal when using the tool. You'll need to make at least 2...one for the large lip seals and another for the square-section O-rings on the shafts. If you use a gallon-size bleach bottle, the bottom of the bottle can be used to presoak the clutches in ATF. Let them soak for a few minutes until the bubbling stops.
Ken
The fact that these jokers manage to keep their transmissions in one piece despite this kind of abuse is a testament to the extreme robustness and mayhem-resistance of the Torqueflite.
