Jeff's 727 rebuild thread
Have you re-read the chapter 15 troubleshooting and testing section of the Carl Munroe TF Handbook on dragging? Of the possible culprits: Bands, line pressure, valve body. I'd be looking at the line pressures and then the valve body and that governor. I'd road test it shifting manually into all gears up and down, from easy to hard throttle, making note of shift quality. Then when leaving it in drive do the same thing. Know what it does under as many different scenarios. First thing a trans shop will want do I believe is check the pressures. There are many pressure tests to perform in order to know for certain where the issue lies. You have a gauge to check??