I am going to do this from memory. My memory is shot, but not that bad. Sorry about no pictures.
One of the biggest things people overlook is adjusting the bands on their transmission. It's a very important process. That's because they are afraid of it. I have seen the best of mechanics shy away from that stuff.
I assure you the process is so simple, anybody can do it.
The 47 and 48RE evolved over the years from the bullet proof 727 3 speed trans of the early 60's. In it's hay day, it was the trans of envy. It evolved to a lock up converter and an overdrive transmission. In the early days, the overdrive units were a problem and the torque converters. But that was designed that way for warranty purposes. In the old days a 727 would take allot of abuse. Considering, they held up pretty well in the diesels too. You couldn't beat it as badly as you could behind a gas motor. The ones that complained, never admitted they beat the crap out of it. Nuff Said
There are two bands to be concerned with. Some say they should be set two different settings, and some say the same. When you look at the shift process, both bands work pretty hard. I prefer the same adjustment for both since the difference is negligible.
Remove the transmission pan after draining. In the right rear corner you'll see a round disk about 4" in diameter, with a lever under it, That is a hydraulic servo. In the center of the lever is a nut about 13/16 with a small threaded post in the middle. The nut is a lock nut. On the end of the post is a hex. As I recall it was 5/16 hex.
Put a socket on the end of the post. With a box wrench, loosen the locking nut. Back the nut down quite a bit. With the socket thread the post in until it bottoms. The manual says 72 In LB. Snug Once you have torqued it down, make note of where the socket handle is pointing. Back the post out 1 and 3/4 turns. Hold the stud still and tighten the locking nut. Done. Now go change your under ware.
On the left front of the transmission, there is a second adjustment. This one is external of the pan. Repeat the process here as you did inside the pan. It doesn't matter which one is done first. But they both should be done together.
Fill the trans and yer done!
Those who tow will probably see 4 to 5 turns before the band bottoms, This is not unusual. But that looseness will cause the bands to wear more and prematurely. There is nothing to do in the over drive unit.
These transmission flushes are a great idea! They flush the fluid out of the converter which is around 3 quarts. However, the filters need to be changed as well. this is an excellent time to spot wear in the transmission. You want to be looking for chunks of clutch material, brass or aluminum chips laying in the pan and any steel on the magnet in the pan. Black mud stuck to the magnet is normal. Metal pieces are not. Time to stop beating it and keep an eye on it. I've seen these go 50 and 60K from the early warnings. It's your money.
I'll try to find some pics for you