If you are just looking for gas mileage, just go with an AOD or T-5 tranny!!! Went the T-5 in my 56 and managed to get 27 MPG on my last trip to Columbus!!! Not kidding! RPM dropped from 3000 RPM @ 60 MPH to 1800 RPM @ 60 MPH with the T-5! The T-5 also made my car launch a LOT harder out of the hole as the FMX had a 2:97 to 1 first gear, while the T-5 has a 3:35 to 1 first gear.

This way you win at bot ends, more power out of the hole and LOTS more top end than the car can handle!!! (3400 RPM in 5th gear at 110 MPH!!! ) And I am getting better gas mileage than my neighbors 2007 scrub pickup!!!!

I love the smell of burning rubber in the morning!

668 must not have liked the answers. Never responded again. Can't win all of them I Guess.

Frank/Rebop

Bristol, In ( by Elkhart) 

Been a long time since I have been here . I was a member years ago ---my user name was Marvsmerc......   Anyhow, Glad to be back. I still have my 54 Mercury Monteray 2 dr hardtop in the original colors.  I am looking for torque converter for it , as it leaks trans oil constantly as it is sitting.  I believe it is because when I changed the hub bearing in the torque convertor ,I made a groove in the casing pounding out the old one.    Does anyone have one for sale?   Thanks, Mike

Mike where are you located and do you still have original trans in the merc   Carl

Carl,  I am in Warrensburg, Ny.    I do have the original Tranny in the Merc ,I installed the new hub bearing in the Converter myself  &  a few years ago had the Transmission rebuilt.   
.      Thanks, Mke

Mike so you need the air cooled converter,I have one and I will check fed ex for shipping cost to you and then give you a total cost if you want me to.Need you zip code also Carl