The 700 and the 4L60 mean the same thing. Just a newer designation.
Here's the order in which I used to run the dianostic tree on those old buggers for a no upshift condition:
1. Fuel filter 2. Throttle cable 3. Governor 4. Finally, pull the pan to check for debris and/or a plugged filter. Rip the filter open to see what's inside.
If the pan has signs of black "soot" in the bottom, she's toast. If its clean as a whistle in there, chances are it has a stuck TV valve or a broken band.
Just for what it's worth, a stuck valve condition or a broken band can be verified by having the truck up in the air and idling in drive. Shove in on the 2-4 servo cap with a large pry bar and the transmission should shift up.
I'm like you tho. Since you've been using it for snow plow work and given the fact that it has that "clutchy" smell, I'd be leaning towards the notion that I've got some major work ahead of me.
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