Originally Posted by Camaro 69

Don't junk the transmission just yet. Are you getting any error codes, although you may not? Your problem could be with the 2-3 shift solenoid on the valve body. The 2-3 solenoid is the one on the passenger side. The 1-2 solenoid (and 4th shares it as well), is the one on the drivers side. If it's messing up, it can make your trans shift funky. What you're experiencing might not be the clutches slipping at all, but the solenoid not allowing an upshift, or trying to, but keeping it in a lower gear (gear searching and high rpm's). Do an online search for diagnostics. Basically you want to make sure there is power going to the solenoid, that the ground wire from the PCM is working, and that the solenoid itself isn't bad. If your clutches were worn out and slipping, I would expect you to have that happening when you jump hard on the throttle from a start.