(while in drive) As soon as i let out of the brake the truck launches. Also, there is a drastic loss of power when it shifts into 2nd gear. While stopped I put it in neutral and the truck revved. Needless to say I parked it. Torque Converter? and if so what are the chances of transmission problems as well?

 

Yep, TC or a warped pump cover. Usually the TC. Drop the pan and look for debris, if its clean just flush the cooler lines well to make sure nothing is in there.

 

22? Curious in regard to your sig. What is a 2005.5?

 

half year. don't you have a 2004.5? or are you looking for something specific?

 

I had always seen the half years for the emission years, every 3 years..
A 2004 truck is not the same as my 2004.5 because of the emissions.

2004.5 like mine they changed emissions and added CAT.
2007.5 is the next year that emission changed

I am assuming your 2005.5 is no different than a 2005

 

Now that you say that it has me questioning why my truck is a half year. I have yet to find a difference. I would think something cosmetic maybe. One would think there has to be something different...

 

The mid year 05 had parts changes but no technology\design changes. The mid year designation is usually reserved for a major revision in engine technology that coincides with emissions changes.

That said, mid 05 introduced the G56 and DMF plus replacing the IC with an all metal one instead of the one with plastic end tanks. AFAIK, its parts only so not really a major revision.