Don't forget to swap the Lever for the MLPS...
It's a total pain in the ...shoulders... to do under the car. The pan must be off to do it.
A Gran Marquis lever will NOT work; it points up, instead of down. (noted while installing the cable...

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The harness the transmission connector is on unplugs, making it easy to repin.
The magnetic speed sensor has a different plug, so you want to swap it, but the screw mount hole is slightly different, so you will have to elongate the hole while it's out. (oval shaped hole works fine)
Did this today; got everything back in except the mlps lever, which I'll hit tomorrow.
You really want both transmissions out, side by side, for part swaps. I will next time, for sure.
Some tips:
Don't let one of your buddies round off one of the flexplate bolts by trying to use a wrench in the inspection plate hole...there's a nicely located, removable rubber plug that a ratchet will fit thru to remove these; (Actually, don't let your friends near your car with a wrench, period!) Use a six point socket, 14mm...there are apparently no standard bolts in the transmission removal process, anywhere.
EDIT: The flexplate bolts are english! 9/16" Get new ones before you start. The nut remover set from Sears removes the damaged ones great, lol.
PB Blaster the night before works wonders on exhaust bolts.
Yes, there are three starter bolts; the third one can only be seen with fingertips...barely... A really small 1/4" ratchet with a 2" extension helps with #3; but it wont break it loose. EDIT: A 10mm socket, attached to a 1/4" extension, attached to a u-joint, attached to a longer 1/4" extension, attached to a rachet will remove this fine.
Wear mechanics gloves during the unbolting process; know what you are punching when the bolt breaks loose...punching an exhaust manifold stud as hard as you can won't hurt the stud AT ALL!...work above your head, that way you wont punch yourself in the side of head (with a wrench, no less) if the wrench slips, on the first driveshaft bolt, at 8am...Also, less stuff drops in your eyes...safety glasses are a good idea, if you can stand having them on. Mercon V in your eye burns like fire, btw.
Ford still apparently ships new transmissions with mercon 3; the 22k mi GM trans was full of it, and still had the toy inside...BTW, the toy will work as a plug on the outside of the dipstick hole as well.
Total damage: 8 minor cuts, 1 roadrashed elbow, several good bruises, 1 completely wasted case of Heineken. (no beer till I'm done for the day)
Well, back to the beer; Peyton is on SNL...
Edit:
It's in, works great, just need to figure out which gear to get to make the speedo correct...I'll use the gps tomorrow to get speed readings, and calculate from there. I have a 3.08 rear end, and odd tires; should be interesting...
My magnet in the old trans was covered in metal shavings...I spent over two hours flushing the cooler/lines, no metal shavings, but a little bit of black particles...flushed, backflushed, till it was clean. Nothing would stick to the magnet I put in the pan; the black stuff could have come from the rubber lines I used to flush with.