Are My New 727 Clutches, Bands, or Fluid Burning?

Hi, I'm new to the forum and just posted in the Welcome section. I am worried about something I found with my car and would appreciate feedback from people with experience with 727s. I don't come from a family or friends interested in cars or mechanics, so I have been teaching myself by reading a lot (books, articles, forums) and doing the work through trial and error. I enjoy the journey, but my lack of experience and not having anyone personally to turn to for real-world experience/advice...

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Author: Coronet