http://auto.howstuffworks.com/auto-parts/towing/towing-capacity/information/torque-converter.htm
High performance converters during normal DD conditions act as any normal OEM converter does, but if you Floor it, they allow the engine to instantly rev to the converters flash point, putting the engine in its peak torque rpm. which allows instant tire scorching power.
This is whats referred to a "tight or high STR" converter. you dont notice any changes in your normal gental acceleration from stoplights.
A "loose" converter say built for N02 makes your foot feel as tho you need to floor it to even get the vehical moving.
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These examples are based off most aftermarket cams that produce peak torque from 3-3400, the converters flash point will vary based on the cam, but for these examples we will talk about a cookie cutter cam in the 218-224 range, which will make peak torque real close to 3200rpm.
Example,
Say you have a cam that makes its peak torque at 3200 and you have a OEM converter that flash's at 2200rpm.
when you floor it from a complete stop, your converter "grabs" at 2200 and you take off, bogging your engine and it feels hesitant untill the engine RPM reachs 3200 and then you start feeling the power.
Now say you swap that 2200 converter for a 3200, This is whats called matching the converter to your cam.
When you punch it from a complete stop, the converter allows the engine to rev to 3200 then it "grabs" and you take off like a madman, ripping tires to shreds if you want.
2nd example,
Your driving down the road at 40mph, with engine rpms around 1300 in OD.
With OEM 2200 converter.
You Punch it WOT, the 2200 will flash and you will bog abit until the engine reachs its cams peak torque rpm and then it will start to pull hard.
Same scenario but swap in a 3200 converter.
Rolling 40 and you go WOT, your engine instaly hits 3200rpm,the converter "grabs" and you take off like a madman. No hesitation, no bogging, just tire shredding power being delivered to the ground.
This is why a Tune, converter and Vette + Billet OD servo should be Every Automatics first mod, it unleashes the full potential of your stock setup.
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The best part is that as you do your bolt ons, the feeling of power is increased substantially unlike with the oem converter that robs you of your full potential.
For aprox 1k you can install a converter, longtubes, servo's and get a tune.
Thi will dramaticly wake your vehical up, BUT! its CRACK! you WILL want MORE! not in a year, not in a few months, you will want it NOW!
Just remember what i posted above, Proper selection of parts will transfer over to the 6.0, making its build that much more.
If you buy good used, you can do all of the above + heads (243's) and all the extra parts needed (pushrods, LS7 lifters, LS6 vally cover, oil pump etc) fror under 2k and make some awesome power.
LS motors are like lego's pull a cpl parts from this and that kit to make what you want. Just need to know what parts work and what don't.
All of this info is on LS1truck and performancetrucks.net..