Automatic transmission help needed

[rauto13]

I just bought 70 model with a dead 350 auto tranny. It has a small block engine (not sure what size), probably a 350. The previous owner said he was driving and it just quit pulling. He replaced the filter which did not help. I have checked the linkage and everything looks okay on the linkage to the trans. I have also checked and the torque converter is correctly bolted to the flywheel and no broken bolts. The trans has no reverse or forward gears and will not pull at all. Every time I hear of someone losing a tranny, they all at least have low or reverse or least one of the gears. I have lost a tranny before and it would still pull a little bit.

Can a 350 automatic just go out with no warning?

Any suggestions on what I could check before springing for another tranny?

Oh, also the tranny is way over full on the dipstick (maybe a quart over full?)