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I have an 85 740 with the M46 transmission. Car has almost 80K mi. (Just a baby, considering the age.) The transmission has never had to be completely overhauled, but I did have a hell of a time getting the overdrive to work properly. Maybe a year and a half ago it started sticking in gear on the highway and turned out to have a bad solenoid. But before buying an expensive solenoid, I first tried removing the overdrive and replacing all o-rings, gaskets, and making sure it wasn't gunked up internally. Whole transmission is now running very strong and shifts very well.
Tim
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