Well, you could address the torque converter issue by just doin some routine maintenance.
Change the 5 qts of transmission fluid or take it and have a flush done (if somebody will touch it, just be aware that they might not in fear of blowing the seals out of the trans).
I might be wrong but sometimes a proper troubleshoot will save ya a lot of money...
And given the conditions, it's been sitting for years, that transmission fluid has probably lost viscosity.
$350 is a steal though, Just concentrate on catching up on the PM after you get the repairs done.
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