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LTZ didnt you already answer this..? http://forum.73-87chevytrucks.com/smforum/index.php?topic=32788.msg278327#msg278327
I have a 700R4 in my 75 that was doing the same thing. Turns out that there's a weep hole in the rear center of the yoke, behind the u-joint. I talked to a few tranny guys and they told me to just weld up the hole. Worked perfectly and I didn't have to rebalance anything. You might check if yours has the same type of weep hole.