Plan on grinding my fuel plate friday... thinking about 100. I had a Banks wastegate actuator valve given to me. Does this mean I don't have to do the elbow mod? The valve is suppost to up boost to 38 psi peak.

 

yep with the banks acuator you won't need a boost elbow

 

Yes the elbow will not be necessary. Though if you are running a stock 47RE I would give it a little more than a month before it starts acting up (depending on how heavy your foot is). A BUILT transmission can cost you a pretty penny, but a fortified tranny (single disk billet tc and a trans-go shift kit) can be had for around $600 (PM me). If you don't plan on drag racing all the time nor hauling heavy (more than 15k trailer weight) that would be all you need and you would see a HUGE improvement over stock as far as how it shifts, acceleration, and even a little more fuel economy.