I think somethings wrong here! LOL

Well, at least you're working your way thru it. BTW, the solid shaft on the front of the trans is the front pump support, and it is rigid. The secondone, is inside the first one, and smaller. That's the actual input shaft for the trans. An, it is supported by the convertor, and isnt rigid. In fact, you should be able to pull it in and out a ways..Like between .035 and .080 if memory serves right. That's the end play spec for 727s/904s. But, the loose valve body bolt is an indicator of nasty vibes in there...
And, you 360 convertor SHOULD have a weight, and the 318 may have a very small one. B&M make a flex plate that solves the weighted convertor deal and lets you run any nuetral convertor. Keep your chin up!