No, both the pads and the ring gear are 5/8" too deep into the transmission right now. It's actually in 3/4" with the converter all the way in against the pump with the transmission standing on the tailshaft (dropped it in and rotated it until I got the three clunks), but I have to take away 1/8 to 3/16" to allow the recommended freeplay.
I referenced this web page.
http://ls1tech.com/forums/automatic-transmission/821738-torque-converter-installations.html
Once I get the converter measurements sorted out, it "should" bolt right up to the engine and flex plate.