My son has a 92 full size2 door, 4WD blazer. We had the 700 trans. rebuilt 2 years ago. Now it is not shifting right. Well it has been running low on trans. fluid. The guy that rebuilt used a cork pan gasket. A friend of my son changed the filter. put a new rubber gasket on. He found quit a bit of slivery metal on the magnet. He also replaced a shift soleniod. It is not shifting right when he test drove it. It has been sitting at the friends place about a week. Son drove it home. He said that it was shifting but not into overdrive. Don't have a clue what is wrong with it. Is there another soleniod or govenor that controls the overdrive? Guess he and his friend will have to take the trans. out. And have it rebuilt again. Got a older gentleman that does it on the side for $450.00 Thanks, gearyr

 

as far as i know,there is only 1 solenoid for the overdrive.. If its been running low on fluid,then its probably time for a rebuild.

 

Nothing wrong with cork gaskets. First thing, take it to a shop with a good rep and let them test drive it and check the line pressure. No reason to jump right into a rebuild. Troubleshooting is the most important, and most overlooked, step in any problem.

 

TV cable adjustment correct? Some material on the magnet is pretty normal after a rebuild. The steel clutches are a little rough and get polished by the clutch plates at first. I do a filter and fluid change after the first 500 miles after a transmission rebuild.
I've never used a cork gasket, but doubt there is a big problem with them unless the bolts are overtightened which would probably cause a leak.

Chris is right and there should only be the TCC solonoid in a 700r4. Other than that there are some switches I believe but I have not got around to figuring out what they do. However your low on fluid is a problem. 3+4th gear clutch pack will not tollerate lack of pressure in the least bit.

If it is going fine but just not into overdrive, double check the fluid level. I know if you are 1 qt. low, it is on the verge of not locking up the torque converter(been there).