on our '03 the "mil" came on and the odo said p0700. haven't had a chance to hook up scanner, my dad is out of town on vacation with truck and fifth. has anybody else had this experience? is it terminal or a nuisance? so far he told me no other probelms except for slightly firmer shifting. oh yeah he has the 47re trans........

 

PO700 is transmission control system failure.
You have electronic problems with the transmission. Reset code and see if it is a sporadic problem or not. Check your electrical connections to the transmission if it cannot be reset and the CIL is constantly reading. If you can't find a problem in the wiring, I'd take it too a shop.