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Just checked mine and to my surprise, it wasn't low, and what came out was a nice red color, didn't smell burnt and didn't have any metal filings in it. I cut it off with the plug out and let a little drain out and replaced with Lucas Trans stop slip.
So even with 263k miles, it wasn't low, and the fluid that came out was okay. The first owner may have had the fluid changed or flushed, but I didn't see it in the book he gave me with all of the service records. I'll have to ask if he did it to find out.
On the unlikely chance he never got the fluid changed, I guess I'm in okay shape.
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1999 Alero GLS, 3400, 4T45E, current mods: WAI with Spectre HPR cone filter, VVME 55w 8000k HID kit
275,000 miles as of 05-14-2015 at 1559 est (3:59 pm)
Planned mods: F body front brake upgrade, ported UIM, LX9 top swap, ported exhaust mans, performance cam. Eventually, turbo or supercharger.
1999 Olds Bravada, 4300 Vortec v6, 4L60E. Current mods (on it when I bought it):
75mm ported throttle body, NGK stage 1 plugs, stage 1 heads.
Planned mods: injector upgrade, exhaust headers
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