With that high pressure reading your car should be slamming all gears and breaking parts with that 722.301 1st gear start valve body.

Normal working pressure in drive is 90 to 110 PSI modulator at 51PSI.
The 722.3, 4, 5 and 6 transmissions have a rare problem of breaking the pressure regulator spring; you, say the car shifts well when cold.


Here is my guess, the PR spring broke, pieces ended up throughout the valve body causing the pressure regulator valve to stick, hence the abnormal pressures, also sticking shifts valves, soft flair up shifts. If the oil is clean with no burnt smell and the pan also clean with no metal. Then try another valve body.