A 700R4 is capable of handling the power you are talking about. Or while you have it out you could get it built to be even stronger. Don't need to go hog wild, but there are a few things that could use improvement. By 89 the 700R4 was getting pretty tuff. I ran one behind a 454 in a RWD S10.
2 things will kill a 700R4 quickly. Proper adjustment of the TV (throttle valve) cable. It's not just a kick down like back in the day. It controls the transmission's internal pressure and one good WOT pass, with it way out of adjustment, can fry the trans.
The 2nd is the size of your right foot. Beat on it hard enough and long enough will kill any transmission. Most of the complaints about 700R4's are from guys who beat them and have no idea if the TV is adjusted or not.
2 things will kill a 700R4 quickly. Proper adjustment of the TV (throttle valve) cable. It's not just a kick down like back in the day. It controls the transmission's internal pressure and one good WOT pass, with it way out of adjustment, can fry the trans.
The 2nd is the size of your right foot. Beat on it hard enough and long enough will kill any transmission. Most of the complaints about 700R4's are from guys who beat them and have no idea if the TV is adjusted or not.