$225 seems llike a good price. Yes, the torque converter has a drain plug on that model year and it should be drained. The torque converter probably holds at least 3 quarts.

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Ali Al-Chalabi

2001 CLK55
1999 Dodge Ram 2500 Cummins Diesel
2002 Harley-Davidson Fatboy
Merlin Extralight w/ Campy Record