low budget bracket racing blues

It may very well be band material (If it's flakes) otherwise it is normal.
The pressure of the fluid hitting the oposing blades in the converter will wear the aluminum off also cause a black film in the bottom of the pan. (which is normal)
x2 on the coasting in after shut off.
You just flooded that bushing when you ran the car, and theres no way it's going to run dry that fast.
Towing any distance at all would be disastrous though.
I wouldn't tow a TF more more than a few miles with the driveline in.

Good point on the screen filter SG, I had forgotten about those, but he said it only whines when rolling. (couldn't hurt though)

SGBARRACUDA said

I've coasted after a pass in neutral for years and never had a problem. The material you are refering to in the pan sounds like band friction material. And since you said the band adjustment was way off I tend to think that enforces my thinking. If you can find the fine mesh type filter over the felt your money ahead. The felt type would cause a whine and usually worse in reverse when the fluid was strianing to be pulled thru felt. I had brand new ones do that!

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