Okay, this morning my wife took the car up to our business and was there only about an hour. She came out to the car, started it, put it into reverse and... no reverse! Managed to push it out of the parking spot and put it into drive and immediatly brought it home. I drove my motorcycle up to the local MB dealer and picked up a filter and gasket ($59.12) and came home and drained the transmission and the torque converter.
Transmission fluid was very dirty and the small magnet in the bottom of the pan looked like a porcupine with all the metal shavings. My first thought was that I was screwed but continued by cleaning out the pan thouroughly making sure that all the metal shavings were cleaned out, pulled the filter, installed the new filter, re-installed the pan and filled the transmission with 8 quarts of valvoline high mileage transmission fluid and 1 quart of lucas transmission treatment. Took it out for a test spin around the block and a short ride on the main road and it shifted as it should and reverse worked as well. I then took the car to work, about 20 miles and the transmission shifted like it should both to work and then when I came home tonight. So, for the time being, I think I have solved my problem, but for how long, only god knows. All those metal shavings on that magnet can't be good so we'll see how long it hold out.