a th350 will handle a mild 454 if you're not wailing on it or pulling heavy loads regularly..I'd install a transmission cooler on the fluid return line to be safe.
Its PROBABLY a th350 in that truck..a th350 pan is square with one corner "cut off"...I'd build a 700r4 for it myself..a properly built 700r4 will handle anything a mild 454 can throw at it, especially with a transmission cooler..