The best info I've heard was from testing Chrysler did between a 727 and 904 in the '70's. With both transmissions and their respective converters built to the same specs and the vehicle weight adjusted for the different transmission weights, the 904 was about .15 seconds faster in the 1/4 mile. It may have been in a Super Stock car. Apparently the benefit came from less rotating weight due to smaller parts and less friction due to smaller friction areas.