Like the others have said, sounds like torque converter drain back. TransGo has a kit for this problem alone, and "reprogramming" (not electronic) kits to improve shifting and other demons. Did the TF2 kit in my "72 Polara with A727, very nice. Shifts firm like my "79 Mercedes Diesel.
Don"t know how far back this problem goes, but at least to the early 60"s aluminum TorqueFlites. Torque converter circuit is also cooling and lubrication on these boxes. When in park, the flow is restricted, but in neutral it is not. Idle in neutral and it will pump up quick. When these transmissions are used in applications where the vehicle sits in park and high idle, like carpet cleaners and service trucks, the transmission fail from lack of lubrication.
Probably this problem is from the early days when TorqueFlite did not have a park position. Had to redesign the valve body to allow for park when they went away from push buttons.
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