"Metal in the pan says it all. I guess I should start saving for a new tranny. I just hope the old gal has a few thousand more miles in her until the inevitable."
Some fine metal powder on the pan magnet is normal. The key is, how did the fluid that you drained look? When looking into the drain pan, did it have that metallic "glimmer"? If it did, that means the fluid is full of suspended metal. That would be bad news, and a sign of impending doom for the transmission.
If the fluid did not have any "glimmer", then there may be hope for it, for a while yet. You could try adding a bottle of that Lucas Trans stop slip and sealer, it's the only product that I would recommend to add to a tranny, other than the factory recommended fluid. I have used it, and it seems to help when the tranny is on it's last leg.
E.D.