Transmission advice

[chevycheetah]

http://www.ebay.com/itm/GM-Goodwrenc...id=p5731.m3795

I'm looking into buying a new engine for my truck within the coming months... what I have now was a crate motor that some young hillbilly just ruined by driving It wayyyyyy too hard. It's salvageable but I'd rather get a new one and clean up the old one and use it on another project later, (maybe 383?)...
It's a one piece seal engine that is run to a 700r4. My question is, can a one piece and two piece seal tranny/ engine combo work? If not can adapters be used to make it work and/ or would I be smarter just to locate a new transmission? The engine I plan on getting is linked above and came from the recommendation of many on its value (I think its also listed for like $1200?)
Any ideas would be great... I'm torn on whether to go manual or automatic but the less money I spend on the transmission, the more I can spend on my house............ orrrrrrrrrrrr on the interior of the truck..... just don't tell my wife