That to me sounds a little more like the governor is sticky or worn out. Does it always shift there or does it change? Modulator valve might play with it a little bit. Usually that's we it wont shift out of 1st until the rpm is really really high like a WOT shift.
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1974 C25 LWB: 454 4bbl Carb / TH400 / 3.73
1992 Camaro RS 305 TBI
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