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From what I've heard, there are two styles of 700R4 tail housings. Some of the earlier housings have an extra crossmember mounting location that is farther back on the housing. The nice thing about the mounting location that is farther back is that it gets the crossmember out of the way of the pan on the bottom of the transmission. I used the newer style of housing that put my crossmember right up close to the pan. I had to trim about 1/2" off the front edge of the crossmember when I installed a high-capacity pan.
I would be a little nervous about trying to drill the holes ahead of time. If they end up being wrong, you will have to slot the holes. There is a small amount of adjustment on the motor mount towers that could help compensate.
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