Finally put my truck in the shop to get the E4OD fixed. It would go into limp mode after it warmed up. Shop man said the converter was slipping but would have to tear it down to confirm that the TC was the only problem. He said a good billet converter would run $525, this sound right? Its at Mr Transmission (only place that it would make it too). Its a 98 f150 4x4. I rarely drive the truck (7-9K miles a year), is this over doing it? Would a factory type TC be more appropriate? Trying to save money.

 

$525 is a good deal for a billet converter if they are upgrading the rest of it inside as wellbrazed fins, torrington bearings, hardened splines, better clutch material (carbon). Since it's just a 150 you wouldn't need to do the triple plate setup, add more clutch or use the dual spring (diesel) lockup piston.
The stock converters really sucked so yes definately get the good one.
Alan

 

Well I'm trying to justify spending that much money on one though. I drive the truck 7-9k miles a year at most, and probably plan on selling it in 3 years or so.

 

Looks like its another $1750 for the trans. The TC clutches went out, which caused the line pressure to go to 100%. They're replacing everything but the clutch packs. A rebuilt TC $225, new solenoid pack $350, rebuilt pump as well.