Torque spec of 8nm for the trans pan - what does this translate to in foot pounds (my torque wrench only does foot pounds, maybe inch pounds)? And can anyone confirm that torque spec?

I've already located the filter/gasket set and will be picking that up in a couple of hours, but I want to make sure I get everything at once. Should 7 quarts be enough to fill the trans? I am going to pick up Dexron II/III - is that the right kind? And should I use dino or synthetic? I'm tempted to get the Mobil I, but that stuff is like liquid gold...

I would not use synthetic - you may need to drain it soon again if it is really broken. You will also need two new ring gaskets for the drain plugs. 8Nm correspond to 5.9 foot pounds (http://locost7.info/converter.php).

Good suggestion, Bruno. I guess I'd hate to have to buy the fluid twice if the trans is really busted. So will standard Dexron II/III work?

Thanks for the foot pound conversion - that's a handy link!

As for the ring gaskets for the drain plugs - I didn't think my car had a drain plug in the trans? Can you elaborate? For refresher, this is a 1991 300E with the M103 engine. I thought all I needed was a pan gasket and filter???

There are two drain plugs (torque 14Nm for both), one in the pan, the other one in the torque converter. One needs an aluminium ring, the other one a copper ring. The torque converter is not covered by the pan, and the other plug in the pan is to reduce the mess when draining. I used Mobil1 last time, I am not absolutely sure about which type of ATF is admitted, my guess is: standard type.