Yes you can install a TH400 converter into a TH350, that is how I hooked up a TH350 to my caddy big block.
As for stall...I've been told by some, that it would increase stall...and by others that it would DEcrease stall....NFC, I know it moves, and doesn't do anything stupid.
I would highly consider getting another 454 flexplate. Really isn't a good idea puttin holes in there.
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