Thanks for the info Chef. I've been debating doing a regear to 4.10's to keep the truck from hunting in and out of OD, but the torque converter mod might be a better solution.
It requires some internal mods to the transmission to work properly long term without damage, so find a good transmission shop who knows 700R4's.
You can try it short term without hurting anything, just disconnect the wiring harness that goes in on the left side. But don't run it long term like that or with heavy loads, so just pull that out and see if you like how it runs.