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I run a chevy TH400 with a 3.08 rear. The top speed is north of 160. Quarter mile 12.0 at ~116mph (still in second gear - I shift at 7400 rpm).

Tranny was built by Hughes and I use a Hughes 3000 stall converter.

If your rear end can handle the torque, I'd go lower in the rear gears. I don't want to destroy my aluminum C4 vette rear setup, so have never changed to lower gears.