I've got a 92 f150 that I purchased a week ago. in the severe cold we are having here in Michigan.. the engagement delay rears it's ugly head. approx 5 sec on the reverse side... and approx 3-4 on the drive side. one the trans is going it works prefectly except for it trying to stall at the occasional stoplight. pop the trans in neutral ahead of time and it does not try to stall at all. I would appreciate knowing some thoughts on this... this is a truck i bought extremely cheaply to put a plow on for my driveway and to be a daily driver. i have put about 500 mi on the truck so far.... It shifts great and no shudder at all. only issue seems to be the engagement delay. truck has 127k on it. fluid is a good color... slightly bubbly when its warm. thoughts?

 

I would do a complete fluid change - drop the pan and drain the torque converter - and use Mercon V and a new filter. That's the best place to start. You will need about 16 qt of fluid.