I have a Merc-o-matic behind a 312 in a 1956 Mercury. Both engine and trans were rebuilt recently, however there have been enough issues since to keep me from returning to that mechanic. The latest to surface is a leaky torque converter. It's probably always had an occasional drip but it is fairly consistent now. It leaks even when the car is not running.
I've removed the inspection plates and air duct to have a good look. If I wipe everything dry and come back next day, the fins are wet. The cover plate is always dry and the transmission is dry.
So it seems to me that the fluid must be leaking down the back of the torque converter and then dripping off the fins. And if that is the case, what is likely to be wrong? A seal of some sort I imagine.
I have not removed this before, so I guess I will need to pull the trans, bell housing, torque converter together and then remove the torque converter on the bench to replace the seal?